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प्रश्न
State Whether the following Statement is True or False:
There is no difference between Revaluation Account and Realisation Account.
चूक किंवा बरोबर
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उत्तर
This statement is false.
Explanation:
Revaluation Account is prepared when the firm continues, mainly to record changes in the values of assets and liabilities. Realisation Account is prepared at the time of dissolution to close assets and liabilities and determine profit or loss on realisation.
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