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Why are assets and liabilities revalued …

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Why are assets and liabilities revalued at the time of admission of a partner ?

Posted by Surya Kant 6 years, 3 months ago

CBSE > Class 12 > Accountancy

3 answers

Sakshi Sharma 6 years, 3 months ago

To know the present value of assets and liabilities so that new partner or retiring partner should not gain abnormal profit or bear abnormal loss

Aachal Verma 6 years, 3 months ago

To know the actual value of assets and liabilities because the value of assets and liabiltities does not remain constant it's value fluctuate or change with the passage of time.so the revaluation a/c is prepared in admission ,retirement or death of a partner.

Vasu Gujar 6 years, 3 months ago

For a new balancesheet

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CBSE > Class 12 > Accountancy

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Posted by Mahi . 1 year, 4 months ago

CBSE > Class 12 > Accountancy

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CBSE > Class 12 > Accountancy

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Posted by Munni Lal 1 year, 5 months ago

CBSE > Class 12 > Accountancy

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