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Class 12 · Accountancy · Expert
→When an unrecorded liability is discovered and paid during the dissolution of a firm, what effect will it have on the Realisation Account?
Class 12 · Accountancy · Expert
→At the time of dissolution of a partnership firm, if an amount lower than the actual proceeds from an asset is credited to the Realisation Account, what will be the effect?
Class 12 · Accountancy · Expert
→What is the result when the cash received from assets is more than their book value in the Realisation Account?
Class 12 · Accountancy · Expert
→At the time of dissolution of a partnership firm, if a profit arises from the sale of an asset, to which account is it transferred?
Class 12 · Accountancy · Expert
→At the time of dissolution of a partnership firm, how is bank overdraft treated in the Realisation Account?
Class 12 · Accountancy · Expert
→At the time of dissolution of a partnership firm, if an external liability is mistakenly recorded twice in the Realisation Account and the error is not rectified, what will be the effect?
Class 12 · Accountancy · Expert
→When an unrecorded asset is sold, on which side of the Realisation Account is the amount received recorded?
Class 12 · Accountancy · Expert
→In the Realisation Account, what does taking over an asset at zero value generally indicate?
Class 12 · Accountancy · Expert
→During the dissolution of a firm, if an external liability is only partially paid and the remaining amount is not waived, what happens to the balance?
Class 12 · Accountancy · Expert
→At the time of dissolution, if the amount realised from an asset is less than its book value, what result will be recorded in the Realisation Account?
Class 12 · Accountancy · Expert
→During the dissolution of a firm, if a liability is legally extinguished and no payment is required, what effect will it have on the Realisation Account?
Class 12 · Accountancy · Hard
→If all entries in the Realisation Account are correct but the profit from realisation is distributed in the wrong profit-sharing ratio, what will be the result?
Class 12 · Accountancy · Hard
→If a transaction related to the Realisation Account is mistakenly recorded twice, what will be the effect?
Class 12 · Accountancy · Hard
→If all entries in the Realisation Account are correct but its final totaling is incorrect, what type of error is this?
Class 12 · Accountancy · Hard
→At the time of dissolution, if an asset taken over by a partner is mistakenly recorded as a cash receipt, what will be the main effect?
Class 12 · Accountancy · Hard
→On dissolution of the firm, a part of a liability is paid in cash, but the payment entry is not recorded in the Realisation Account. What will be the effect on the realisation profit?
Class 12 · Accountancy · Hard
→At the time of dissolution, if an unrecorded asset is treated as having zero value and ignored despite having an actual value, what will be the effect?
Class 12 · Accountancy · Hard
→If an asset’s realisable value is lower than its book value but it is shown at book value, what will be the effect on the Realisation Account?
Class 12 · Accountancy · Hard
→In the Realisation Account prepared at the time of dissolution, all entries are correct, but the total of the debit or credit side has been calculated incorrectly. What type of error is this?
Class 12 · Accountancy · Hard
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