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Realisation account vs revaluation account
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Answer Posted / harshal ramkrishan patil
Revaluation a/c is created at change in profit sharing ratio,Realisation a/c is created at dissolution of the firm.
Both a/c is Nominal a/c.
Revaluation into records the actual,true or current market value of assets and liabilities;Realiasation is other hand process.
The purpose of the a/c is taking the effect of fluctuations in assets&liabilities in book value,Realisation a/c purpose of closing books of a/c.
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