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Question
Matching Question:
At the time of dissolution of a partnership firm:
| (i) | Cash realised from sale of asset is transferred to | (a) | Revaluation Account |
| (ii) | Payment of Partner's capital is transferred to | (b) | Bank Account and Realisation Account |
| (iii) | General reserve is transferred to | (c) | Partner's Capital Account and Bank Account |
| (d) | Partner's Capital Accounts |
Match the Columns
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Solution
| (i) | Cash realised from sale of asset is transferred to | (b) | Bank Account and Realisation Account |
| (ii) | Payment of Partner's capital is transferred to | (c) | Partner's Capital Account and Bank Account |
| (iii) | General reserve is transferred to | (d) | Partner's Capital Accounts |
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