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Question

___________________ account is prepared to find out the net effect of realisation on various assets and payment of various liabilities in case of dissolution of firm.


A

Revaluation

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B

Partner's capital

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C

Realisation

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D

None of these

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Solution

The correct option is C

Realisation


Realisation account is prepared to find out the net effect of realisation on various assets and payment of various liabilities.


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