Question on: JAMB Accounting - 2024
The value of assets on dissolution of partnership is debited to realization account and credited to ___ account
A
bank
B
asset
C
dissolution
D
cash
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Correct Option: D
When assets are sold during dissolution, the asset account is credited to reduce its balance. The corresponding debit is made to the realization account, which tracks gains and losses on assets and liabilities during dissolution.
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