1.

Write THREE Objectives of Preparing Realization Account.

Answer»

Realization Account : A Realization Account is opened for Disposing Off all the Assets of the Firm and making payment to All the Creditors. 

Realization Account is a Nominal Account . The Objective of Preparing Realization Account is : 

  • To find out the Profit or Loss on Realization of Assets and Payment of Liabilities . 


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