Question

difference between if Realization account and Re-evaluation account?​

Answer 1

Answer:

Revaluation account is an account prepared to ascertain the variation in the values of the assets and liabilities of the firm. Realisation account is an account prepared to ascertain the net profit or loss on the sale of assets or discharge of liabilities. ... It can be prepared only once, i.e. when the firm is dissolved.

Explanation:

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