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Question

When the firm has agreed to pay the partner a fixed amount for realisation work irrespective of the actual amount spent, such fixed amount is debited to ___


A

None of these

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B

Capital account

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C

Realisation account

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D

Bank account

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Solution

The correct option is C

Realisation account


When the firm has agreed to pay the partner a fixed amount for realisation work irrespective of the actual amount spent, such fixed amount is debited to Realisation account.


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