Q30. At the time of dissolution of partnership firm, following accounting adjustments are considered

Q: What is the correct answer for CUET UG Accountancy Q30?

The correct answer is D. During the dissolution of a partnership firm, the following accounting adjustments are considered:B. Accumulated losses are transferred to partners' capital accounts in profit-sharing ratio (to reduce their capital).C. All assets except cash and fictitious assets are transferred to debit side of Realisation A/c (to prepare for their sale).E. All external liabilities are transferred to the credit s

Q: Q30. At the time of dissolution of partnership firm, following accounting adjustments are considered:- A. Partner's current A/C are transferred to respective partner's loan A/C. B. Accumulated losses…

The correct answer is D. During the dissolution of a partnership firm, the following accounting adjustments are considered:B. Accumulated losses are transferred to partners' capital accounts in profit-sharing ratio (to reduce their capital).C. All assets except cash and fictitious assets are transferred to debit side of Realisation A/c (to prepare for their sale).E. All external liabilities are transferred to the credit s

Q: What are the options for this CUET UG Accountancy question?

A. A, B and C only · B. B, C and D only · C. C, D and E only · D. B, C, and E only

Question

Q30. At the time of dissolution of partnership firm, following accounting adjustments are considered:-
A. Partner's current A/C are transferred to respective partner's loan A/C.
B. Accumulated losses are transferred to partners capital A/c in profit sharing ratio.
C. All assets except cash and fictitious assets are transferred to debit side of Realisation A/c.
D. Partners' loans are transferred to Realisation A/c.
E. All external liabilities are transferred to the credit side of Realisation A/c.
Choose the correct answer from the options given below:
(a) A, B and C only
(b) B, C and D only
(c) C, D and E only
(d) B, C, and E only

FirstInTest · Accepted Answer

During the dissolution of a partnership firm, the following accounting adjustments are considered:B. Accumulated losses are transferred to partners' capital accounts in profit-sharing ratio (to reduce their capital).C. All assets except cash and fictitious assets are transferred to debit side of Realisation A/c (to prepare for their sale).E. All external liabilities are transferred to the credit side of Realisation A/c (to prepare for their payment).A. Partner's current A/C are transferred to respective partner's capital A/c, not loan A/c.D. Partners' loans are repaid *after* external liabilities are paid from realization proceeds, but *before* capital accounts are settled. They are not typically transferred to Realisation A/c; rather, they are paid directly.

Answer

A, B and C only

Answer

B, C and D only

Answer

C, D and E only

Answer

B, C, and E only

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