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Question
Which accounts are not transferred to Realisation Account?
Options
Cash/Bank A/c
Bank overdraft
Reserve fund
All of the above
MCQ
Solution
Reserve fund
Explanation:
The accounts listed below are not moved to the Realisation Account:
- Bank overdraft
- Cash/Bank A/C
- Reserve fund
- Partners' Capital Accounts and
- partners' Loan Account
- Credit/Debit balance of Profit & Loss Account.
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