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RP
Question Practice

What happens to the profit or loss derived from the revaluation of assets and liabilities?

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

What happens to the profit or ...

Single Answer MCQ
Q-00082248

What happens to the profit or loss derived from the revaluation of assets and liabilities?

1

It is transferred to the Profit and Loss Account.

2

It is distributed among partners' capital accounts.

3

It is kept in the Revaluation Account.

4

It is ignored in the financial statements.

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