In case, revaluation account is not prepared, the assets & liabilities appears in the books of a reconstituted firm at their _______.

Old book values

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Market value

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Revalued figures

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Realizable value

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is A Old book values
When Revaluation A/c is not prepared , the assets and liabilities are recorded in a memorandum balance sheet at old Book Values.

Suggest Corrections

Similar questions

In case of Revaluation account is not prepared, the assets and liabilities appear in the books of the reconstituted firm at their :

At what figures the value of assets and liabilities appear in the books of the firm after revaluation has been done? Show with the help of an imaginary balance sheet.

Q. account is prepared in order to ascertain net gain or loss on revaluation of assets and liabilities and bringing unrecorded items into books.

At what figures the value of assets and liabilities appear in the books of the firm after revaluation has been due. Show with the help of an imaginary balance sheet.

Q. ___________ account is opened for revaluation of assets and liabilities at the time of admission of a partner into a firm.

Join BYJU'S Learning Program

In case, revaluation account is not prepared, the assets & liabilities appears in the books of a reconstituted firm at their _______.

The correct option is A Old book valuesWhen Revaluation A/c is not prepared , the assets and liabilities are recorded in a memorandum balance sheet at old Book Values.

The correct option is A Old book values
When Revaluation A/c is not prepared , the assets and liabilities are recorded in a memorandum balance sheet at old Book Values.