On dissolution, if a partner undertakes to make payment of a liability of the firm, the account to be debited is:
A. profit & Loss Account
B. Realisation Account
C. Partner’s Capital Account
D. Cash Account
Answer:B
On dissolution, if a partner undertakes to make payment of a liability of the firm, the account to be debited is:
A. profit & Loss Account B. Realisation Account C. Partner’s Capital Account D. Cash Account