Do we need to pass entry for assets taken over by a creditor? Options: A . &nbsp Yes. Asset A/c Dr. To Creditors A/c B . &nbsp Yes. Creditors A/c Dr. To Asset A/c C . &nbsp No. Don't need to pass any entry. D . &nbsp None of these

Do we need to pass entry for assets taken over by a creditor?

Question -

Do we need to pass entry for assets taken over by a creditor?

Options:

A . Yes. Asset A/c Dr. To Creditors A/c

B . Yes. Creditors A/c Dr. To Asset A/c

C . No. Don't need to pass any entry.

D . None of these

Answer: Option C
:
C

No. We don't need to pass any entry for assets taken over by a creditor.

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