Which of the following items is recorded on the credit side of the Realisation Account?

Correct answer: Amount received from sale of assets

The amount received from the sale of assets is credited to the Realisation Account because it represents the actual realisation from those assets. Transfer of assets, realisation expenses and payment of liabilities are recorded on the debit side. Exam tip: Remember the distinction—assets transferred are debited, but the proceeds from their sale are credited.