Question

(1) At the time of the reconstruction of a partnership firm is prepared
(a) trading account
(b) revaluation account
(c) realisation account
(d) profit-loss appropriation account​

Answer 1

Answer:

c

Explanation:

c Revaluation account

Answer 2

At the time of reconstruction of the partnership firm, the realization account is prepared.

• Option “B” is correct i.e. realization account.

• Realization Account is mainly prepared at the time of the dissolution of a partnership firm. This type of account is prepared to see the profit made or loss acquired at the time of dissolution of a firm

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