Question

what is realisation account?
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Answer 1

Answer:

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Answer 2

Answer:

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☘Realization Account .

• ☘Realization Account is prepared at the time of dissolution of a partnership firm. This account is prepared to know the profit made or loss incurred at the time of dissolution of a firm. ... In last if total of credit side exceeds debit side, it means there is profit and that is transferred to partner's capital accounts..

• ☘Realisation A/c is not a person. For real account, either it should be a asset or liability but it is neither a asset nor a liability. So it cannt be real account..