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Credit side of Realisation Account exceeds debit side by ₹32000. What does it mean?

Answer and explanation

Correct answer: Realisation profit

If credit side is higher it means profit from settlement of assets and liabilities. It is distributed among partners in profit sharing ratio.

Related tags

AccountancyRealisation ProfitProfit SharingRealisation AccountDissolution Of A Partnership FirmClass 12 Mcq

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