Increase in the value of liabilities at the time of admission of a partner is

Anurag Pathak
June 1, 2023
[CBSE] Admission of Partner, [CBSE] TS Grewal Solutions, Accountancy Class 12th, MCQs (Admission)

Anurag Pathak28.35K June 1, 2023 0 Comments

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

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Anurag Pathak28.35K Posted June 1, 2023 0 Comments

Ans – a)

Explanation:-

Increase in the value of liabilities is the loss/expenses. Thus, it is debited to Revaluation Account.

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Increase in the value of liabilities at the time of admission of a partner is

1 Answer

Anurag Pathak

1 Answer

Anurag Pathak

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