Question : On firm's dissolution, on realisation of patents (which was shown in Balance Sheet) will be credited to:
Option 1: Cash A/c
Option 2: Profit and loss account
Option 3: Realization account
Option 4: None of the above
Answer (1)
23rd Jan, 2024
Correct Answer: Realization account
Solution :
Answer = Realization account
When patent realised
Bank a/c.....Dr
To Realisation a/c.
Hence, the correct option is 3.
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