Give the word/term/phrase which can substitute the following statement.

1) Debit balance of Realisation account.
Ans:- Realisation Loss

2) Winding up of partnership business.
Ans:- Dissolution of partnership

3) An account opened to find out the Profit or Loss on realisation of Assets and settlement of Liabilities.
Ans:- Realisation A/c

4) Debit balance of an Insolvent Partner’s Capital Account.
Ans:- Capital Deficiency

5) Credit balance of realisation Account.
Ans:- Realisation Profit

6) Conversion of asset into cash on dissolution of firm
Ans:- Realisation

7) Liability likely to arise in future on the happening of certain events
Ans:- Contingent Liabilities.

8) Assets which are not recorded in the books of account
Ans:- Unrecorded Assets

9) The account which shows realisation of assets and discharge of liabilities.
Ans:- Realisation A/c

10) Expenses incurred on dissolution of firm.
Ans:-Dissolution/realisation Expenses