1

Question

Options:

A . A) Debit Partner Capital A/cs and Credit Investment A/c

B . B) Debit Revaluation A/cs and Credit Investment A/c

C . C) Debit Investment A/cs and Credit Revaluation A/c

D . D) None of the above

Answer: Option C

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More Questions on This Topic :

Question 1. On revaluation the increase in the value of assets leads....

Question 2. If the old profit sharing ratio is more than the new profit sharing ratio of a partner the difference is called....

Question 3. The profit or loss on revaluation of assets and liabilities is transferred to the capital account of....

Question 4. At the time of admission the goodwill brought by the new partner may be credited to the capital accounts of....

Question 5. Which of the following statements is not true in relation to admission of a partner....

Question 6. Partnership firms in India are governed under the Partnership Act....

Question 7. At the time of admission of partner, if the book value and the market value of investment is same, the balance in Inves....in Investment Fluctuation Reserve is transferred to which account ?

Question 8. When goodwill existing in the books is written off at the time of admission of a partner....

Question 9. Change in the relationship of existing partners which results coming to an end in agreement and a new agreement coming ....in agreement and a new agreement coming into effect is:

Question 10. Goodwill of the firm of A and B is valued at Rs....

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