Question
Which of the following are correct regarding Realization
Accounts? I.A realization account is an account that is used to record the proceeds of the sale of assets during the liquidation of a partnership. II.It’s a kind of permanent account. III.It is used to distribute the cash proceeds of the sale of partnership assets to the partners in accordance with their respective profit and loss sharing ratios.Solution
it’s a kind of temporary account.
More ESIC Part B Questions
- Which article of the Indian Constitution addresses qualifications for membership of the State Legislature?
Which bilateral naval exercise between India and France took place in the Mediterranean Sea in September 2024?
- The folk dance "Jat-Jatin" is traditionally associated with which Indian state?
UNESCO World Heritage List recently welcomed the historic 'Moidam'. Which Indian state is home to this site?
When is Human Rights Day observed annually?
- Which river originates from Rakshastal's northwestern tip near Mansarovar?
Where is India’s first silicon carbide manufacturing facility being set up?
Which state has announced its new 34th district “Vav Tharad”?
- In which Indian state are the Cardamom Hills located?
- Which country first implemented zero-based budgeting?
Relevant for Exams:
