Question : While transferring liabilities to realization account is ------------------omitted to be transferred.
Option 1: creditors
Option 2: bank loan
Option 3: employees Provident fund
Option 4: partner's loan account
Answer (1)
23rd Jan, 2024
Correct Answer: partner's loan account
Solution :
Answer =
partner's loan account
Only outsider's liabilities are transferred to the realisation account.
Partners loan a/c is omitted to be transferred.
Hence, the correct option is 4.
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