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  4. JAMB 2017
  5. Which of these accou...

Which of these accounts is dissolution expenses credited?

Accounts - Principles of Accounts
JAMB 2017
Which of these accounts is dissolution expenses credited?
  • A. partners capital account
  • B. revaluation account
  • C. partners current account
  • D. Realization account
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Correct Answer: Option D
Explanation
Realization account: the cash realized from sales of asset is credited to it
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
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WAEC offline past questions - with all answers and explanations in one app - Download for free