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
Answer (1)
12th Jan, 2024
Correct Answer: bank account
Solution :
Answer =
bank account
On dissolution of the firm partner's capital account is closed through bank a/c or cash a/c. This process involves settling the partner's capital account by transferring the final payment to or from the bank account, ensuring accurate financial closure and distribution of assets among partners.
Hence, the correct option is 4.
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