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Which of the following is transferred to Realisation Account:
Balance of Cash Account
Balance of Profit & Loss Account
Amount realised on sale of assets
Reserves
- Balance of Cash Account: This is not transferred to the Realisation Account as it remains with the firm.
- Balance of Profit & Loss Account: Typically adjusted in partners' capital accounts, not directly transferred to Realisation Account.
- Amount realised on sale of assets: This amount is indeed credited to the Realisation Account as it represents the cash flow coming in from the sale of assets during dissolution.
- Reserves: These are usually transferred to partners’ capital accounts in accordance with the partnership agreement.
By: santosh ProfileResourcesReport error
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