Write the differences between Revaluation Account and Realisation Account. (any three) Answer... MP Board Class-12 BOOK KEEPING AND ACCOUNTANCY question answer collection

Que : 76. Write the differences between Revaluation Account and Realisation Account. (any three)

Answer:

REVALUATION ACCOUNT	REALISATION ACCOUNT
it shows the efffect of revaluation of assets and reassesment of liabilities	it shows the realisation of assets and settlement of liabilities
it is prepared to make adjustments in the value of asset and amount of liabilities	it is prepared to determine net gain gain or loss on realisation of assets and settlement of liabilities
it is prepared at the time of admission	it is prepared at the time of dissolution