In partnership dissolution, an asset taken over by a partner is debited to?

In partnership dissolution, an asset taken over by a partner is debited to?
  • A.
    partners capital account and credited to realization account
  • B.
    Partners capital account and credited to asset account
  • C.
    asset account and credited to realization account
  • D.
    realization account and credited to capital account
Correct Answer: Option A
Explanation
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