Question

Deficiency surplus account in liquidation liquidation of a company is called

Answer 1

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Definition of deficiency account. : an account supplementing the balance sheet of a financially weak enterprise showing estimated realization values of assets and their insufficiency to meet creditors' claims and occasionally indicating the causes of the difficulty.

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Answer 2

Explanation:

Definition of deficiency account. : an account supplementing the balance sheet of a financially weak enterprise showing estimated realization values of assets and their insufficiency to meet creditors' claims and occasionally indicating the causes of the difficulty.

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