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b. retirement of a partner

c. death of a partner

d. dissolution of partnership

16. The Credit balance of profit and loss account is transfer to Credit side
of ______ at the time of dissolution of a firm

a) Partner’s Capital Account

B) Realisation Account

C) Cash Account

D) None of the Above

17. At the time of dissolution of partnership, unrecorded asset taken by X,
a partner debited to:

a. X’s capital a/c
b. Realisation a/c

c. cash A/C
d. None of the above

18.on dissolution of a firm factious assets are transfer to:

a. credits side of the partner capital account

b. debit side of realization account

c. debit side partner capital account

d. credit side of realization account

19. on dissolution of the firm amount receive from the sale of unrecorded
asset is credited to;

a. partners’ capital account

b. profit and loss account

c. cash account

d. realization account

20. realization a/c is a

a. personal a/c

b. real a/c

c. nominal a/c