Question

Realisation Account is ________ on realisation of assets. (Fill in the blank by choosing correct option)
a) debited
b) credited
c) deducted
d) None of these

Answer 1

CREDITED............

Answer 2

• Debited

Realisation account is opened to determine profit or loss keeping in mind the realisation of assets. This account is made at the time of dissolution of a firm.  The type of this account is a nominal account. All the assets except cash are debited.