Question

Where the decrease in value of assets at the time of reconstruction of partnership firm recorded ?

(A) Debited to Revaluation A/c
(B) Debited to Profit and Loss A/c
(C) Credited to Revaluation A/c
(D) Debited to Partner’s Capital/Current A/c

Answer 1

Correct option is (A) Debited to Revaluation A/c