Question:
What is Realisation Account?
What is Realisation Account?
Show Hint
Realisation Account helps in finding profit or loss on dissolution of the firm.
Updated On: Feb 16, 2026
Hide Solution
Verified By Collegedunia
Solution and Explanation
Realisation Account is prepared when a firm is dissolved.
All assets are transferred to this account at book value and liabilities are settled to determine the profit or loss on dissolution.
Was this answer helpful?
0
0
Top Questions on Basics of Accounting
- Write any four advantages of preparing charts.
- PSEB XII - 2025
- Accountancy
- Basics of Accounting
Prepare Cash Account in Tally from the following transactions:
- PSEB XII - 2025
- Accountancy
- Basics of Accounting
- Write the code name (Sequential, Mnemonic, Block) of the following: (a) Code Name of Accounts
- PSEB XII - 2025
- Accountancy
- Basics of Accounting
Complete the table by writing formulas in Row 6 and Column E.
- PSEB XII - 2025
- Accountancy
- Basics of Accounting
Complete the following table:
- PSEB XII - 2025
- Accountancy
- Basics of Accounting
View More Questions
Questions Asked in PSEB exam
- Explain the importance of E-waste management and proper disposal of electronic gadgets.
- PSEB XII - 2026
- Green Computing
- Explain the CIA Triad (Confidentiality, Integrity, and Availability) in cyber safety.
- PSEB XII - 2026
- Cyber Security
- Explain the concepts of Primary Key, Foreign Key, and Candidate Key.
- PSEB XII - 2026
- Database Management Systems
- Write the syntax and use of SQL DDL commands (CREATE, ALTER, DROP) and DML commands (INSERT, UPDATE, DELETE).
- PSEB XII - 2026
- Database Management Systems
- What are the main provisions of the Indian IT Act 2000?
- PSEB XII - 2026
- Cyber Security
View More Questions