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Class 12 · Accountancy · Medium
→In the Realisation Account, what is the result when an asset is sold for more than its book value?
Class 12 · Accountancy · Medium
→What does the closing balance of the Realisation Account represent at the time of dissolution of a partnership firm?
Class 12 · Accountancy · Medium
→At the dissolution of a firm, in which account is the amount not recovered from debtors recorded?
Class 12 · Accountancy · Medium
→When a loss is incurred in the Realisation Account on the dissolution of a partnership firm, what effect does it have on the partners’ capital?
Class 12 · Accountancy · Medium
→In the dissolution of a partnership firm, in which account is the profit arising from the sale of an asset determined?
Class 12 · Accountancy · Medium
→Who prepares the Realisation Account at the time of dissolution of the firm?
Class 12 · Accountancy · Medium
→At the time of dissolution of a firm, in which account is the settlement of unrecorded liabilities recorded?
Class 12 · Accountancy · Medium
→During the dissolution of a firm, what is the main purpose of recording the proceeds from the sale of assets and the payment of liabilities and dissolution expenses in the Bank Account?
Class 12 · Accountancy · Medium
→What is the effect of paying liabilities at the time of dissolution of a partnership firm?
Class 12 · Accountancy · Medium
→What is determined from the Realisation Account at the time of dissolution of a partnership firm?
Class 12 · Accountancy · Medium
→At the time of dissolution of a firm, what is generally done with its unsold assets?
Class 12 · Accountancy · Medium
→At the dissolution of a partnership firm, which of the following items are recorded in the Realisation Account?
Class 12 · Accountancy · Medium
→When is Realisation Account prepared
Class 12 · Accountancy · Medium
→What is the main objective of Realisation Account in dissolution
Class 12 · Accountancy · Easy
→In the Realisation Account, a credit balance of ₹3,000 remains after selling all assets and paying all liabilities. What does this indicate?
Class 12 · Accountancy · Easy
→Final purpose?
Class 12 · Accountancy · Easy
→On dissolution of a firm, if the Realisation Account shows a profit, which side has the higher total?
Class 12 · Accountancy · Easy
→On dissolution of a firm, to which account are the assets, except cash/bank balance, and external liabilities transferred?
Class 12 · Accountancy · Easy
→What is the effect on the partners’ capital accounts when the Realisation Account shows a loss?
Class 12 · Accountancy · Easy
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