definition of realization account?


1 Answers

Rooster Cogburn Profile
Rooster Cogburn , Rooster Cogburn, answered

Conversion of assets, goods, or services into cash or receivables through sale. Also called actualization.  In accrual basis accounting, recognition of revenue upon its occurrence, when the title passes from seller to the buyer with the associated creation of an obligation to pay.

What is realization? Definition and meaning - BusinessDictionary.

Answer Question