On dissolution of a firm, bank overdraft is transferred to ___

None of these

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Realisation account

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Bank account

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Cash account

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Solution

The correct option is B
Realisation account

On dissolution of a firm, bank overdraft is transferred to Realisation account.

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Similar questions

Q. State whether the following statements are True or False.

On dissolution Bank Overdraft is transferred to Realisation Account.

Is the loan by a partner transferred to Realisation Account at the time of dissolution of a partnership firm? Why?

Q. Select the most appropriate alternative from those given below :

If any unrecorded liability is paid on dissolution of the firm____________ account is debited.
a) Cash/Bank A/c
b) Realisation A/c
c) Partner’s Capital A/c
d) Loan A/c

Name the asset that is not transferred to the debit side of Realisation Account, but bring certain amount of cash against it disposal at the time of dissolution of the firm.

At the time of dissolution, all the assets of the firm are transferred to Realisation Account at ___________ values.

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On dissolution of a firm, bank overdraft is transferred to ___

The correct option is B Realisation account On dissolution of a firm, bank overdraft is transferred to Realisation account.

The correct option is B
Realisation account

On dissolution of a firm, bank overdraft is transferred to Realisation account.