state two objectives of realisation account
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mention tow objective of realisation account in hindi
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State two objectives of realization account.
Explanation:
- What is realization account? When an firm is dissolve at that time realization account is prepared to know the profit or loss on realizing assets and repay the liabilities of the firms.
- In other words, nominal account is known as the realization account, which is created to record the sale of such assets and the discharge of the liabilities.
- Realization account helps in ascertaining the profit or loss of the firm.
- The other name for realization account is nominal account.
- The two basic objectives of realization account are- it help to find out the profit or loss on realization of assets and payment of liabilities and a realization account is opened for disposing off all the assets of the firm and making payment to all the creditors.
Hence, this is realization account and its objective.
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