Question : Which of the following is not transferred to the Realisation Account:
Option 1: Bank account
Option 2: partner's loan account
Option 3: partners capital account
Option 4: All of the above
Answer (1)
22nd Jan, 2024
Correct Answer: All of the above
Solution :
Answer = All of the above
All Sundry Assets [Except Cash Balance, Bank Balance, Partner's Capital (Dr Balance) Profit and loss (Dr) Balance etc] are Transferred to Realisation A/C.
All sundry liabilities (outsider liabilities) are transferred to the Realisation Account.
Hence, the correct option is 4.
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