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Realisation Account

Class 12 Accountancy के इस tag से जुड़े questions। हर question के साथ chapter, topic, level और difficulty दी गई है।

AccountancyAt the time of dissolution of a partnership firm, if an asset is recorded in the Realisation Account at a value different from its book value, what type of error is this?Class 12Dissolution of a Partnership FirmRealisation AccountHardAccountancyIf the cash received from the sale of an asset is recorded at an incorrect amount in the Realisation Account, which figure will definitely be misstated?Class 12Dissolution of a Partnership FirmRealisation AccountHardAccountancyIf all errors recorded in the Realisation Account at the time of dissolution are corrected, what will be the result?Class 12Dissolution of a Partnership FirmRealisation AccountHardAccountancyAt the time of dissolution, if a liability is mistakenly credited twice to the Realisation Account, what will be the effect?Class 12Dissolution of a Partnership FirmRealisation AccountHardAccountancyAt the time of dissolution, if an asset is recorded at a book value lower than its actual realisable value, what will be the effect on the profit of the Realisation Account?Class 12Dissolution of a Partnership FirmRealisation AccountHardAccountancyIf all entries in the Realisation Account are correct but its final balance is calculated incorrectly, what type of error is it?Class 12Dissolution of a Partnership FirmRealisation AccountHardAccountancyAt the time of dissolution, if more than the entitled share of Realisation Account profit is transferred to one partner’s capital account, what will be the effect?Class 12Dissolution of a Partnership FirmRealisation AccountHardAccountancyAt the time of dissolution, what is the effect of wrongly classifying or recording an asset in the Realisation Account?Class 12Dissolution of a Partnership FirmRealisation AccountHardAccountancyDuring the dissolution of a firm, an external liability has already been transferred to the Realisation Account. If the entry for its partial cash payment is not recorded, what will be the effect?Class 12Dissolution of a Partnership FirmRealisation AccountHardAccountancyIf all assets are realised at their correct values but the realisation expenses are recorded at incorrect amounts, what will be the effect?Class 12Dissolution of a Partnership FirmRealisation AccountHardAccountancyWhat is the effect if a transaction that should be recorded in the Realisation Account is omitted?Class 12Dissolution of a Partnership FirmRealisation AccountHardAccountancyAt the time of dissolution, if a liability is settled by transferring an asset to the creditor instead of making a cash payment, what will be the accounting effect?Class 12Dissolution of a Partnership FirmRealisation AccountHardAccountancyDuring the dissolution of a partnership firm, if an asset is transferred to the wrong partner and its value is also recorded in that partner’s capital account, what will be the consequence?Class 12Dissolution of a Partnership FirmRealisation AccountHardAccountancyOn dissolution of a partnership firm, if an unrecorded asset is sold but the amount received is not credited to the Realisation Account, what will be the effect on profit?Class 12Dissolution of a Partnership FirmRealisation AccountHardAccountancyAt the time of dissolution, if a partner pays a firm’s liability from personal funds, what is the correct accounting treatment?Class 12Dissolution of a Partnership FirmRealisation AccountHardAccountancyIf the items in the Realisation Account are totalled incorrectly, what type of error is this?Class 12Dissolution of a Partnership FirmRealisation AccountHardAccountancyRecording a liability as an asset is what type of accounting error?Class 12Dissolution of a Partnership FirmRealisation AccountHardAccountancyIf all transactions of a firm's dissolution are recorded correctly, but the profit or loss on the Realisation Account is distributed in an incorrect capital ratio instead of the partners' profit-sharing ratio, what will be the result?Class 12Dissolution of a Partnership FirmRealisation AccountHardAccountancyOn dissolution of a partnership firm, if the assets are overstated above their realisable value while the liabilities are recorded correctly, what will be the effect on the Realisation Account?Class 12Dissolution of a Partnership FirmRealisation AccountHardAccountancyWhat will be the effect if realisation expenses are not recorded in the Realisation Account?Class 12Dissolution of a Partnership FirmRealisation AccountHard

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