Question

Decrease in value of assets at the time of admission of a partner is ______________.

• A. credited to revaluation A/c
• B. debited to revaluation A/c
• C. credited to partners capital A/c
• D. debited to profit and loss A/c

Answer 1

The correct option is B debited to revaluation A/c

At the time of admission its required to revaluation of assets but value of assets are decrease then admission of partner is debited to revaluation a/c because of value of assets is decrease.