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why preare revaluation accont  

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why preare revaluation accont

 

    • Posted by Sumit Shukla 6 years, 10 months ago

    CBSE > Class 12 > Accountancy
    • 1 answers

    Naveen Sharma 6 years, 10 months ago

    Ans. Revaluation account is prepared on historic cost concept and present value is not taken for consideration. but when a partner is admitted old partners need to show through revaluation account the assets and liability at present value.

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