Question

Answer briefly the following question:
Give any two differences between Revaluation Account and Realisation Account.

Answer 1

Main differences are :
1. Revaluation Account is prepared only when there is change in the value of assets and liabilities and Realisation account is prepared at the time of dissolution.
2. Revaluation Account comprise of only those assets and liabilities which are revalued. Realisation account comprise of all assets and liabilities.