Realisation A/c is ____________ account prepared at the time of dissolution.
a permanent
a temporary
neither temporary nor permanent
none of these
Realisation A/c is a temporary account prepared at the time of dissolution.
Is the loan by a partner transferred to Realisation Account at the time of dissolution of a partnership firm? Why?
At the time of dissolution, all the assets of the firm are transferred to Realisation Account at ___________ values.
___________________ 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.