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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, if an asset of the firm has a book value higher than its actual realisable value, what will be the effect on the Realisation Account, other things remaining the same?Class 12Dissolution of a Partnership FirmRealisation AccountHard AccountancyWhen the Realisation Account considers the possible loss arising from the disposal of assets and settlement of liabilities at dissolution, which accounting principle is primarily reflected?Class 12Dissolution of a Partnership FirmRealisation AccountHard AccountancyIn the Realisation Account, what will be the effect if a liability is settled for an amount higher than its book value?Class 12Dissolution of a Partnership FirmRealisation AccountHard AccountancyWhat is the ultimate effect of an incorrect entry in the Realisation Account?Class 12Dissolution of a Partnership FirmRealisation AccountHard AccountancyAt the time of dissolution, if a partner takes over an asset instead of selling it, on what basis is the asset recorded in the Realisation Account?Class 12Dissolution of a Partnership FirmRealisation AccountHard AccountancyWhile distributing the loss on realisation among the partners, if one partner’s share of the loss is higher, in which account will it be adjusted?Class 12Dissolution of a Partnership FirmRealisation AccountHard AccountancyOn dissolution of a firm, if an asset is sold partly for cash and partly for non-cash consideration, what should be recorded on the credit side of the Realisation Account?Class 12Dissolution of a Partnership FirmRealisation AccountHard AccountancyAt the time of dissolution, a liability is settled for an amount lower than its book value. What effect will this have on the Realisation Account?Class 12Dissolution of a Partnership FirmRealisation AccountHard AccountancyAt the time of dissolution, if only part of an external liability is paid and the remaining amount is not waived, what happens to the unpaid balance?Class 12Dissolution of a Partnership FirmRealisation AccountHard AccountancyWhen a partner brings cash to meet the firm’s liabilities or loss at the time of dissolution, where is this transaction recorded?Class 12Dissolution of a Partnership FirmRealisation AccountHard AccountancyOn dissolution of a partnership firm, if the total credit side (receipts) and total debit side (payments) of the Realisation Account are equal, what will be the result of the account?Class 12Dissolution of a Partnership FirmRealisation AccountHard AccountancyOn dissolution of a partnership firm, in which account is the amount received from the sale of an unrecorded asset credited?Class 12Dissolution of a Partnership FirmRealisation AccountHard AccountancyAt the time of dissolution, what is the main purpose of recording the amount received from the disposal of non-cash assets in the Realisation Account?Class 12Dissolution of a Partnership FirmRealisation AccountHard AccountancyAt the time of dissolution, if a partner takes over a firm’s liability, in which account and in what manner is it recorded?Class 12Dissolution of a Partnership FirmRealisation AccountHard AccountancyWhat is the effect of omitting a transaction from the Realisation Account?Class 12Dissolution of a Partnership FirmRealisation AccountHard AccountancyOn dissolution of a partnership firm, cash remains after paying external liabilities, partners’ loans and realisation expenses. On what basis is this amount generally distributed?Class 12Dissolution of a Partnership FirmRealisation AccountHard AccountancyIf the value of an asset taken over by a partner is recorded incorrectly in the Realisation Account, what will be affected?Class 12Dissolution of a Partnership FirmRealisation AccountHard AccountancyAt the time of dissolution, a partner takes over an unrecorded asset. If the partner’s Capital Account is credited instead of debited, what type of error is this?Class 12Dissolution of a Partnership FirmRealisation AccountHard AccountancyIn the Realisation Account, if one asset is sold above its book value and another asset is sold below its book value, what is determined?Class 12Dissolution of a Partnership FirmRealisation AccountHard AccountancyAt the time of dissolution, if an unrecorded asset is taken over by a partner at an agreed value, which journal entry is correct?Class 12Dissolution of a Partnership FirmRealisation AccountExpert