Q1343
In the context of dissolution of a firm, which of the following statements is true:
A.
Dissolution of a firm automatically result in dissolution of a partnership
AnswerB.
Only firm's assets can be used for payment of firm's liabilities
C.
Partner's loan is transferred to the Realisation account with other liabilities of the firm
D.
A loan from partner's wife is transferred to the partner's loan account
Answer: Option A
Solution
Answer: Option A
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