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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
While revaluating the assets and liabilities of a firm if there is decrease in the value of assets then it will be
  • ✓
    Debited to revaluation account and deduct it from assets value
  • B
    Credited to revaluation account and deduct it from asset value
  • C
    Debited to revaluation account and added to the asset value
  • D
    Credited to revaluation account and added to the asset value
✓

Answer

Correct option: A.
Debited to revaluation account and deduct it from assets value

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