In partnership dissolution, an asset taken over by a partner is debited to?
FINANCIAL
JAMB 2008
In partnership dissolution, an asset taken over by a partner is debited to?
- A. partners capital account and credited to realization account
- B. Partners capital account and credited to asset account
- C. asset account and credited to realization account
- D. realization account and credited to capital account
Correct Answer: A. partners capital account and credited to realization account
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