Question

Objective type Questions.
Answer in one Sentence only.

Which accounts are not transferred to Realisation Account?

Answer 1

The following accounts are not transferred to Realisation Account:

1. Cash/Bank A/c,
2. Bank overdraft,
3. Reserve fund,
4. Credit/Debit balance of Profit & Loss Account,
5. Partners’ Capital Accounts and
6. Partner’s Loan Account.