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Match the following:-1.Accumulated profitsa.means change in value of assets, ie., present value being different from that of book value.2.reserveb. means amount set aside out of profits to meet a contingency or to strengthen the financial position of the firm.3.Revalualtion of assetsc. means re assessing the liabilities ie., whether the liability is more or less than that shown in the books of accounts4.Re assessment of liabilitiesd. means profits of the firm that have not been distributed among the partners.a. 1.d;2.b;3.a;4.c b. 1.a;2.c;3.d;4.b c. 1.b;2.d;3.a;4.cd. 1.c;2.a;3.b;4.d |
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Answer» a. 1.d;2.b;3.a;4.c |
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