dissolution ch me realisesation account kaise banate hai
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Student Expert
3rd Feb, 2021
Hello Dear,
Realization account is nominal account opened on the dissolution of a firm to ascertain the profit or loss on realization of assets and payment of outsiders liabilities. This account is closed by transferring the balance (i.e., profit or loss on realization) to partner’s capital accounts. Realization Account is prepared at the time of dissolution of a partnership firm. This account is prepared to know the profit made or loss incurred at the time of dissolution firm.
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