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Match the items given in List I with those in List II List I (Different Accounts) List II (Related Transactions) 1) Prof…

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Match the items given in List I with those in List II

List I (Different Accounts) List II (Related Transactions)
1) Profit and Loss A/c a) Dissolution of Partnership
2) Profit and Loss Appropriation A/c b) Dissolution of Firm
3) Revaluation A/c c) Interest on Loan to Partner
4) Realisation A/c d) Transfer to Reserve

a

1(a), 2(b), 3(c), 4(d)

b

1(a), 2(c), 3(b), 4(d)

c

1(a), 2(b), 3(d), 4(c)

d

1(c), 2(d), 3(a), 4(b)

✓ Correct answer: d)

1(c), 2(d), 3(a), 4(b)

Explanation
List I (Different Accounts) List II (Related Transactions)
1) Profit and Loss A/c Interest on Loan to Partner
2) Profit and Loss Appropriation A/c Transfer to Reserve
3) Revaluation A/c Dissolution of Partnership
4) Realisation A/c Dissolution of Firm

Therefore, Option D is correct.

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