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In case of admission of a partner, the first account prepared is
  • a)
    Revaluation account
  • b)
    Realisation account
  • c)
    Profit and Loss adjustment account
  • d)
    Bank account
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
In case of admission of a partner, the first account prepared isa)Reva...
In case of admission of a partner the first account prepared is revaluation account.. this is because before reconstitution of the firm we have to revalue all the assets nd reassess all the liabilities so that any profit or loss occurred before reconstitution must no affect tha new partner!!
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In case of admission of a partner, the first account prepared isa)Reva...
Revaluation ac
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In case of admission of a partner, the first account prepared isa)Revaluation accountb)Realisation accountc)Profit and Loss adjustment accountd)Bank accountCorrect answer is option 'A'. Can you explain this answer?
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In case of admission of a partner, the first account prepared isa)Revaluation accountb)Realisation accountc)Profit and Loss adjustment accountd)Bank accountCorrect answer is option 'A'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about In case of admission of a partner, the first account prepared isa)Revaluation accountb)Realisation accountc)Profit and Loss adjustment accountd)Bank accountCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for In case of admission of a partner, the first account prepared isa)Revaluation accountb)Realisation accountc)Profit and Loss adjustment accountd)Bank accountCorrect answer is option 'A'. Can you explain this answer?.
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