0
When company goes to liquidation process then realization account is created which is a temporary account and all assets and lialibilities are realized through this account and after realization there may be surplus or defeciancy in realization account.
Wiki User
∙ 9y ago
Add your answer:
Earn +20 pts
What is difference between revaluation account and realization account?
Revaluation account and Realisation account both are nominal account. the purpose of revaluation account is taking the effect of fluctuations in asset & liabilities in their books while purpose of realisation account is to closing the books of accounts of a comapany or a firm. Revaluation a/c is made when any fluctuation in value of an asset takes place. realisation a/c is made at the time of liquidation of a company or a firm.
Is realisation account real account?
realization account... never heard but what i know if you sold something like equipment.. that equipment was realized.. so realization took place there
Is capital account is real account or nominal account?
Real Account
Is the drawing account is a temporary account?
Drawings Account is a Temporary Account
Is drawings account is Nominal or Personal account?
Drawings Account is a Nominal Account. Nominal accounts record liabilities, expenses, revenues, capital and drawing. Examples of nominal accounts are loan account, sales account, commission received account, salaries account, rent account, capital account, drawings account etc.
What is difference between revaluation account and realization account?
Revaluation account and Realisation account both are nominal account. the purpose of revaluation account is taking the effect of fluctuations in asset & liabilities in their books while purpose of realisation account is to closing the books of accounts of a comapany or a firm. Revaluation a/c is made when any fluctuation in value of an asset takes place. realisation a/c is made at the time of liquidation of a company or a firm.
Is realisation account real account?
realization account... never heard but what i know if you sold something like equipment.. that equipment was realized.. so realization took place there
What do you mean by realisation?
Realisation
Why does a Buddhist meditate?
For GOD realisation
What is Subject to realisation?
cheques are sent for collection to the issuers bank and after if they clear the cheque the amount is realised and hence it is called subject to realisation.
What actors and actresses appeared in Eti..... Realisation Begins - 2008?
The cast of Eti..... Realisation Begins - 2008 includes: Gaurav Chatterjee
What is Cheques are subject to realisation?
cheques are sent for collection to the issuers bank and after if they clear the cheque the amount is realised and hence it is called subject to realisation.
What is the medical term for realizing?
Realisation is not a medical word.
Where did Guru Nanak get his ideas about god from?
self realisation
What does realisation from contributions mean?
how much effort you but into your work.
How do you apply for bank realisation certificate?
We can apply the bank realisation certificate once we received the foreign currrency realisation against the invoice. While appliing the certificate we have to fill the all details such as the commodity exported, the fob value of the invoice, the commission and freight value against the shipment and submit to the bank for attestation.
What is important to Scrooge before and after?
Before life realisation it was money and business and after it was people
