On what account realisation account differs from revaluation account. – InterviewSolution

1.

On what account realisation account differs from revaluation account.

Answer»

Revalution a/c	Realisation
It is prepared at the time of admission retirement or death of a partner	It is prepared at the time of closure of business i.e dissolution
Revised only these assets and liability are revalued	All assets and external liabilities are record which are payable
Unrecorded assets liabilities will not be given much importance	All unrecorded assets and liabilities are recorded on respective side.

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