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Employees provident fund is ₹25000. To which account will it be transferred on dissolution?

Answer and explanation

Correct answer: Credit of Realisation Account

Employees provident fund is an external liability. External liabilities are transferred to the credit side of Realisation Account.

Related tags

AccountancyProvident FundExternal LiabilityRealisation AccountDissolution Of A Partnership FirmClass 12 Mcq

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