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On dissolution of a firm, bank overdraft is transferred to:
Question

On dissolution of a firm, bank overdraft is transferred to:

A.

Bank Account

B.

Realisation Account

C.

Partners' Capital Account

D.

Partners' Loan Account

Correct option is B

On dissolution of a firm, bank overdraft is transferred to the Realisation Account, where all assets and liabilities are consolidated for the settlement process.

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