Download App

P1 C4 RECUSTRUCTION OF PARTNERSHIP — Elements of Account STD 12 Commerce — Question

Gujarat BoardEnglish MediumSTD 12 CommerceElements of AccountP1 C4 RECUSTRUCTION OF PARTNERSHIP1 Mark
MCQ
During reconstruction, if there is increase in the value of debts then it will be -
  • ✓
    Debited to revaluation account and added to the debts account
  • B
    Credited to revaluation account and deduct it from debts account
  • C
    Debited to revaluation account and deduct if from debts account
  • D
    Credited to revaluation account and added to the debts account
✓

Answer

Correct option: A.
Debited to revaluation account and added to the debts account

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Explore more

More "MCQ" from P1 C4 RECUSTRUCTION OF PARTNERSHIP→P1 C4 RECUSTRUCTION OF PARTNERSHIP — all question types→Elements of Account STD 12 Commerce question papers→Gujarat Board STD 12 Commerce question papers→Gujarat Board question paper generator→

Similar questions

In which ratio profit or loss of revaluation account is distributed between the partners ?
→
The expenses of the current year of a company is $Rs. 6,00,000;$ and if it is increased by $20 \%$ compared to the previous year, what would be the expenses of the previous year?
→
When only old profit-loss sharing ratio is given, gaining ratio of remaining partners will be$........$
→
Which of the following is the balance of accumulated profit ?
→
How would you consider the interest on debit balance of partners' current account for firm?
→
Debenture is acknowledging$.....$for the company to the investor.
→
Which of the following is not shown under the heading 'Share Capital' in a balance sheet $2$
→
Issue of shares debentures / preference shares is an example of$.........$
→
Credit balance of trading account represents $........$
→
What is called franchise of the following ?
→