Question : -----------------account is prepared at the time of dissolution.
Option 1: profit and loss appropriation account
Option 2: profit and loss adjustment account
Option 3: realisation account
Option 4: profit and loss account
Answer (1)
24th Jan, 2024
Correct Answer: realisation account
Solution :
Answer =
realisation account.
At the time of dissolution, when assets are realised and liabilities paid, the realisation account is prepared.
Hence, the correct option is 3.
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