Question

what is the other name of realisation account​

Answer 1

Answer:

Explanation:

dissolution account

Answer 2

Nominal Account is the other name of realisation account.

Realisation Acoount is a acoount which is prepared at the time of dissolution of partnership .

When firm dissolves this account is preparedd to pay off their dues  by selling their assets.

Realisation Account is a nominal account and its rule is that debit all the losses and expenses and credit its income and gain.

It records the realisation of asset and payment of liabilities .

This account is prepared once in a lifetime when firm dissolves .

Accounts of assets and liablities are closed after preparing realisation account.