Question

On what account Realisation Account differs from Revaluation Account?

Answer 1

Realisation Account is used at the time of dissolution to dispose off assets and liabilities of business whereas Revaluation account is used to bring the value of assets and liabilities to their market value.

Answer 2

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.