Multiple Choice Questions on In case of addmission of partner which of the following cases revaluation account is credited ........ for Common University Entrance Test (CUET) Preparation

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Multiple Choice Questions

In case of addmission of partner which of the following cases revaluation account is credited ........

Accountancy (CUET) Admission of a Partner
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    In case of addmission of partner which of the following cases, revaluation account is credited?

    Decrease in value of liability
     

    Correct Answer

    Increase in value of liability
     

    Incorrect Answer

    Decrease in value of asset
     

    Incorrect Answer

    No change in value of liability

    Incorrect Answer
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    Explanation:

    Decrease in value of liability will be credited and increase in liability is debited.

    By: NIHARIKA WALIA
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