Realization account is a ---------- account
A) Personal
B) Real
C) Nominal
D) Both real and nominal
Correct Answer:
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Q15: Net claim on under insurance is equal
Q16: Gross profit on short sales are calculated
Q17: Short sales is the difference between ……………
Q18: The amount of insurance ………….. to be
Q19: At the time of calculating insurance claim
Q20: On dissolution of firm creditors are paid
Q22: Firm's debts are paid first out of
Q23: On dissolution, all assets excepting cash are
Q24: Loss of realization is borne by the
Q25: On dissolution of firm -------- are paid
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