What are the circumstances when a revaluation of assets and liabilitie

1.	What are the circumstances when a revaluation of assets and liabilities becomes necessary
Answer» Hey there, 1) It is necessary to revalue assets and reassess liabilities at the time of admission of new partners as if assets and liabilities are overstated or UNDERSTATED in the books then its BENEFITS or loss should not affect the NEAR partner. 2) To identify all the rights and obligations of the old company and determine the value to be PAID from the new partner to form a new company. Hence, i hope this helps if u like it give it a thumbs up, if u DONT let me know what was the problem about!

What are the circumstances when a revaluation of assets and liabilities becomes necessary

Answer»

Hey there,

1) It is necessary to revalue assets and reassess liabilities at the time of admission of new partners as if assets and liabilities are overstated or UNDERSTATED in the books then its BENEFITS or loss should not affect the NEAR partner.

2) To identify all the rights and obligations of the old company and determine the value to be PAID from the new partner to form a new company.

Hence, i hope this helps if u like it give it a thumbs up, if u DONT let me know what was the problem about!

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