Increase and decrease in the value of assets and liabilities are recorded through
Increase and decrease in the value of assets and liabilities are recorded through
a) Profit & Loss Account
b) Profit & Loss Appropriation Account
c) Partner’s Capital Accounts
d) Revaluation Account
Anurag Pathak Changed status to publish May 5, 2023
Ans – d)
Explanation:-
The increase and decrease in assets and liabilities are first recorded in revaluation account. The final profit or loss of revaluation is distributed among partners.
Anurag Pathak Changed status to publish May 4, 2023
