Question

If the secured assets realised on dissolution of a firm are more than the liabilities to be paid, they are termed as​

Answer 1

Answer:

The object of preparing Realisation account is to close the books of accounts of the dissolved firm and to determine profit or loss on the Realisation of assets and payment of liabilities. It is prepared by: Transferring all the assets except Cash or Bank Account to the debit side of the account.

Explanation:

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