Question

3. Name the asset that is not transferred to the debit side of realisation account, but
brings certain amount of cash against its disposal at the time of dissolution of the
firm.​

Answer 1

Answer:

Unrecorded asset are those which do not appear in the books of the firm, that's why they are not transferred to the debit side of Realisation Account. But these assets bring certain amount of cash if disposed at the time of dissolution of partnership firm.