Maharashtra State BoardHSC Arts 12th Board Exam
Advertisement Remove all ads

Write the Word / Term / Phrase, Which Can Substitute the Following Statements. - Book Keeping and Accountancy

One Word Answer

Write the word / term / phrase, which can substitute the following statements.
Credit balance in Realisation Account.

Advertisement Remove all ads


Realisation Profit

Explanation: Credit balance in Realisation Account is regarded as ‘Profit on Realisation’. It arises when the credit side of Realisation A/c is more than the debit side. This profit is distributed among all the partners in their profit-sharing ratio.

Concept: Dissolution of Partnership Firm
  Is there an error in this question or solution?
Advertisement Remove all ads


Micheal Vaz Accounts - Book Keeping and Accountancy HSC 12th Standard Maharashtra State Board
Chapter 6 Dissolution of Partnership Firm
Exercise | Q 5 | Page 181
Advertisement Remove all ads
Advertisement Remove all ads

View all notifications

      Forgot password?
View in app×