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Dissolution of Partnership Firm — Book Keeping & Accountancy STD 12 Commerce / Arts — Question

Maharashtra BoardEnglish MediumSTD 12 Commerce / ArtsBook Keeping & AccountancyDissolution of Partnership Firm1 Mark
Question
Why is the Realisation Account opened?
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Answer

Realisation Account is opened to find out profit or loss made on the sale of assets and discharge of liabilities of the partnership firm.

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