JAMB Accounting 2009 Objective — Question 42

Question 42 of 50 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2009 Objective paper, with the correct answer and a full explanation.

42. In a partnership account, conversion of non-cash assets into cash is referred to as

A. realizationCorrect
B. disposal
C. dissolution
D. revaluation

Explanation

Realization is the process of converting a partnership's non-cash assets into cash, typically during dissolution.

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