JAMB Accounting 2011 Objective — Question 33

Question 33 of 49 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2011 Objective paper, with the correct answer and a full explanation.

The transactions relating to liquidation in partnership account is drawn by using

A. A. current account
B. B. cash account
C. C. capital account
D. D. realization accountCorrect

Explanation

The realization account is the account needed for liquidating a partnership business.

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