Increase in the value of assets at the time of admission of a partner is:a) Debited to Revaluation A/c b) Credited to Partners’ capital A/c c) Credited to Revaluation A/c d) Debited to Profit and Loss Appropriation A/c

Increase in the value of assets at the time of admission of a partner

1.	Increase in the value of assets at the time of admission of a partner is:a) Debited to Revaluation A/c b) Credited to Partners’ capital A/c c) Credited to Revaluation A/c d) Debited to Profit and Loss Appropriation A/c
Answer» Correct option is c) Credited to Revaluation A/c

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Increase in the value of assets at the time of admission of a partner is:a) Debited to Revaluation A/c b) Credited to Partners’ capital A/c c) Credited to Revaluation A/c d) Debited to Profit and Loss Appropriation A/c

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