Question

If an asset is taken over by the partner, \(\underline{\hspace{0cm}}\) account is debited.

Hint:

During the dissolution of a partnership, assets taken over by a partner are debited to the Realisation account.

Answer 1

Step 1: Understand the process of asset transfer in a partnership.
When an asset is taken over by a partner, the asset is debited to the Realisation account, as it is a part of the dissolution process.

Step 2: Evaluate the options.
- Realisation: Correct, as it reflects the transfer of assets and liabilities during dissolution. - Cash/Bank: Not applicable in this context. - Capital: Not the correct account for asset transfer. - Loan: Does not apply in asset transfer scenarios.

Step 3: Conclusion.
Thus, the correct account is Realisation.

Final Answer: \[ \boxed{Realisation} \]