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RP
Question Practice

When a partnership firm revalues its assets, where is the revaluation surplus transferred?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 12
Accountancy
Accountancy Part - I
Reconstitution of a Partnershi...
Question Bank

When a partnership firm revalu...

Single Answer MCQ
Q-00082189

When a partnership firm revalues its assets, where is the revaluation surplus transferred?

1

To the Profit and Loss Account

2

To the Capital Accounts of existing partners

3

To the Reserve Fund

4

To the Revaluation Fund

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What is reconstitution of a partnership firm?

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When can a new partner be admitted into a partnership firm?

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Q4.

What rights does a newly admitted partner acquire in a partnership firm?

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