1.

Revaluation of assets at the time of reconstitution is necessary because their present value may be different from their:(A) Market Value.(B) Net Value.(C) Cost of Asset(D) Book Value.

Answer»

Correct answer is: (A) Market Value.

MARKET VALUE

AS THE PARTNERS WILL GET THEIR SHARE ONLY from  THE AMOUNT REVALUED AND NOT from THE MARKET VALUE


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