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Class 12 · Accountancy
→If a firm’s assets are recorded in the books below their actual realizable value and their actual value is received at the time of dissolution, what will be the effect on the Realisation Account?
Class 12 · Accountancy
→What will be the effect if a liability is mistakenly recorded as an asset in the Realisation Account?
Class 12 · Accountancy
→If all entries in the Realisation Account are correct but its final totaling is incorrect, what type of error is this?
Class 12 · Accountancy
→If all the assets are sold at the time of dissolution, but an external liability is neither settled nor recorded in the Realisation Account, what will be the effect?
Class 12 · Accountancy
→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
→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
→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
→If an expense is recorded twice in the Realisation Account, what will be the effect?
Class 12 · Accountancy
→During dissolution, what will be the result if assets are distributed among the partners in an incorrect ratio instead of according to their correctly adjusted capital balances?
Class 12 · Accountancy
→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
→If all assets are correctly recorded in the Realisation Account, but a major external liability is omitted from it and is paid later, what will be the effect on the final realisation profit?
Class 12 · Accountancy
→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
→While preparing the Realisation Account, if an asset has been recorded under a name different from its actual nature, such as machinery recorded as furniture, what type of error is this?
Class 12 · Accountancy
→If a realisation expense that was actually incurred only once is mistakenly recorded twice in the Realisation Account, what will be the effect on the result of the Realisation Account?
Class 12 · Accountancy
→If an external liability is actually paid but the transaction is not recorded in the Realisation Account and Cash Account, what will be the effect?
Class 12 · Accountancy
→On dissolution of a firm, if all assets, liabilities and realisation-related transactions are correctly recorded in the Realisation Account, what does the account’s final balance represent?
Class 12 · Accountancy
→If all entries in the Realisation Account are recorded on the opposite side, what will be the result?
Class 12 · Accountancy
→At the time of dissolution, what is the result if the same asset is recorded in the books at two different values?
Class 12 · Accountancy
→During dissolution, what will be the effect of recording the cash received from the sale of assets at an incorrect amount in the Realisation Account?
Class 12 · Accountancy
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