will we have to pay investment fluctuation fund in realisation?

No Taher, we need not pay investment fluctuation fund like any other liabilities say creditors and B/P. In regard to IFF, below mentioned are the treatments in different scenarios.

When investment appears on the assets side and IFF is given on the liabilities side, it is only then IFF is transferred to the credit side of Realisation Account. The reason behind this is when we have the investment amount, it is probable that its value might have increased or decreased. Due to this increase or decrease in investment value (precisely fluctuations) IFF is prepared. Let's evaluate the three conditions.

1. When investments are realised at a lower value (loss)- In case, the investments have been realised at a lower value than its book-value, then the loss is attempted to be covered-up using IFF. This is done by transferring IFF to credit side of Realisation A/c.
2. When investments are realised at a higher value (profit)- If the investments have been realised at a higher value, then there is no use of IFF and and is closed by transferring it to credit side of Realisation A/c.
3. When no information of realisation of investment is given- In this case, investments are assumed to have realised nothing, hence, no use of IFF and is closed by transferring it to credit side of Realisation A/c.

Thus, in all the aforementioned cases, the treatment remains the same irrespective of profit or loss.

You can also refer to the link below to study this topic and other important treatments of WCF, Contingency Reserves, etc.
https://www.meritnation.com/cbse/class12-commerce/studymaterial/accountancy/partnership-accounts/dissolution-of-partnership-firm/435_2432_7729#slide1_Treatment of JLP, IFF, Goodwill, Workmen Compensation Fund

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