On the admission of a new partner increase in the value of assets is debited to Options: A . &nbspRevaluation Account B . &nbspAssets Account C . &nbspOld partners capital account D . &nbspNone of the above

On the admission of a new partner increase in the value of assets is debited to

Question

On the admission of a new partner increase in the value of assets is debited to

Options:

A . Revaluation Account

B . Assets Account

C . Old partners capital account

D . None of the above

Answer: Option A

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Question 1. A, B and C are partners in a Firm....

Question 2. At the time of admission of a partner , general reserve appearing in the old Balance sheet is transferred to....

Question 3. When the balance sheet is prepared after the new partnership agreement, the assets and liabilities are recorded at....

Question 4. On admission of a new partner balance of General Reserve Account should be transferred to the capital account of....

Question 5. At the time of admission of a new partner, ________ of assets and liabilities should be taken up....

Question 6. _________ ratio is computed at the time of admission of a new partner....

Question 7. The old partners share all the accumulated profits and reserves in their....

Question 8. On admission of a new partner, increase in value of assets is debited to....

Question 9. The difference between old profit sharing ratio and new profit sharing ratio at time of admission is ________ ratio....

Question 10. In admission, profit from revaluation of assets and liabilities will be transferred to the capital accounts of the old ....to the capital accounts of the old partners in the

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