Question

(iii) साझेदारी फर्म के समापन पर पुनर्मूल्यांकन खाता तैयार किया जाता है।
(iii) At the time of dissolution of partnership firm revaluation account is prepared. true or false​

Answer 1

true

hope you get your answer

Answer 2

Dissolution of partnership firm revaluation

Explanation:

• A partnership's dissolution is not the same as a partnership firm's dissolution. Dissolution of partnership refers to any change in the partnership arrangement.
• A partnership can also be dissolved when a new partner is admitted to the firm, or when one of the partners retires or dies.
• In this situation, a new partnership agreement is signed, which means that the old partnership ends and a new one begins. Dissolution, on the other hand, entails the end of the firm's operations as well as the partners' connection.
• "Dissolution of firm" denotes "a dissolution of partnership between all the partners in the firm," according to Sec. 39 of the Indian Partnership Act 1932. As a result, when a company is dissolved, its assets are sold, its liabilities are paid off, and all of the partners' accounts are resolved.
• When a partnership firm dissolves, a Realization Account is prepared. This account is generated to determine the profit or loss made at the time of a company's demise. When a partnership firm dissolves, a Realization Account is prepared.
• This account is generated to determine the profit or loss made at the time of a company's demise. Except for cash and bank accounts, all assets are transferred to the debit side of the realisation account, while obligations (not capital accounts) are transferred to the credit side.
• When assets are sold, a debit is made to the cash/bank account, and a credit is made to the Realization account. When the liabilities are settled, the Realization A/c is debited and the Cash/Bank A/c is credited.
• Finally, if the entire credit side exceeds the total debit side, there is profit, which is distributed to the capital accounts of the partners.

The given statement on dissolution of partnership firm revaluation is true.