Assertion (A): Unrecorded assets are credited to revaluation account at the time of admission of a new partner. Reason (R): Unrecorded assets are gain for the partnership firm because it increases the value of assets.a) Both Assertion (A) and Reason (R) are true. b) Both Assertion (A) and Reason (R) are false. c) Assertion (A) is true and Reason (R) is false. d) Assertion (A) is false and Reason (R) is true

Assertion (A): Unrecorded assets are credited to revaluation account a

1.	Assertion (A): Unrecorded assets are credited to revaluation account at the time of admission of a new partner. Reason (R): Unrecorded assets are gain for the partnership firm because it increases the value of assets.a) Both Assertion (A) and Reason (R) are true. b) Both Assertion (A) and Reason (R) are false. c) Assertion (A) is true and Reason (R) is false. d) Assertion (A) is false and Reason (R) is true
Answer» Correct option is d) Assertion (A) is false and Reason (R) is true.

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