Question : On dissolution of the firm, Bank overdraft is transferred to ....

Option 1: Bank account

Option 2: Realization account

Option 3: Either 1 and 2

Option 4: Partner's capital account

Question : On dissolution of the firm, Bank overdraft is transferred to ....

Option 1: Bank account

Option 2: Realization account

Option 3: Either 1 and 2

Option 4: Partner's capital account

Question : On dissolution of a firm, a partner paid Rs. 6,500 for firm’s realisation expenses. Which account will be debited?

Option 1: Cash Account

Option 2: Realisation Account

Option 3: Capital Account of the Partner

Option 4: Profit & Loss A/c

Question : On dissolution of the firm partner's capital account is closed through.

Option 1: realization account

Option 2: drawing account

Option 3: loan account

Option 4: bank account

Question : On dissolution of the firm partner's capital account is closed through.

Option 1: realization account

Option 2: drawing account

Option 3: loan account

Option 4: bank account