Increase in the value of liabilities at the time of admission of a partner is
Increase in the value of liabilities at the time of admission of a partner is
a) Debited to Revaluation Account
b) Credited to Revaluation Account
c) Credited to Partner’s Capital Account
d) Debited to Partner’s Capital Account
Anurag Pathak Changed status to publish June 1, 2023
Ans – a)
Explanation:-
Increase in the value of liabilities is the loss/expenses. Thus, it is debited to Revaluation Account.
Anurag Pathak Changed status to publish June 1, 2023
