Question

What is nature of Realisation Account​

Answer 1

Explanation:

Realisation Account is a nominal account. Assets and Liabilities are transferred to it for closing their accounts. It compares the amount shown in the Balance Sheet in respect of assets (Book Value) and the amount actually obtained by selling them in the market or otherwise disposing them.

Answer 2

Explanation:

Realisation Account is a nominal account. Assets and Liabilities are transferred to it for closing their accounts.