Reconstitution of Partnership (Admission of Partner) — Book Keeping & Accountancy STD 12 Commerce / Arts — Question
Maharashtra BoardEnglish MediumSTD 12 Commerce / ArtsBook Keeping & AccountancyReconstitution of Partnership (Admission of Partner)1 Mark
Question
What is Revaluation Account?
✓
Answer
An account opened and operated by any partnership firm for recording changes in the value of assets and liabilities and to ascertain profit or loss made on revaluation of assets and liabilities is called Revaluation Account.
Need a full question paper?
Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.