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Realisation account vs revaluation account
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Answer Posted / nikreet
Revaluation account and Realisation account both are nominal
account.
the purpose of revaluation account is taking the effect of
fluctuations in asset & liabilities in their books while
purpose of realisation account is to closing the books of
accounts of a comapany or a firm.
Revaluation a/c is made when any fluctuation in value of an
asset takes place.
realisation a/c is made at the time of liquidation of a
company or a firm.
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