Question : Realisation A/c is prepared to ascertain the _________
Option 1: Profit/loss on realisation of asset
Option 2: Profit/loss on repayment of liabilities
Option 3: Both 1 and 2
Option 4: None of the above
Answer (1)
23rd Jan, 2024
Correct Answer: Both 1 and 2
Solution : Realisation A/c is an account which is prepared for the settlement of assets and liabilities. Hence, the correct option is 3.
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