Chapter: Dissolution of Partnership Firm· Book-Keeping & Accountancy

If asset is taken over by the partner, _____ account is debited.

Q.1 (A) (iii) If asset is taken over by the partner, _____ account is debited.

A. revaluation

B. capital

C. asset

D. balance sheet

Doubtly Asked 29 Oct 2026 Board exam · July 2025 hsc 12th Save WhatsApp Report

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Answer: B. capital

Answer: (b) capital

When a partner takes over an asset (for example on dissolution), the value of the asset is recovered from him, so his Capital Account is debited and the Realisation Account is credited.

Doubtly AI · 29 Oct 2026 AI-generated · not yet verified Report

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If asset is taken over by the partner, _____ account is debited.

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