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At the time of dissolution loan from partner will be transferred to Realisation Account.

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State whether the following statement is True or False.

At the time of dissolution loan from partner will be transferred to Realisation Account.

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  • True
  • False
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1 Answer

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False

Explanation: Partner’s loan is transferred to a separate account known as Partner’s Loan Account. This is because partner’s loan is not an external (outside) liability. Its payment can be made only after the settlement of external liabilities.

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