Class 12 Exam > Class 12 Questions > What is the need to make revaluation account?
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What is the need to make revaluation account?
Most Upvoted Answer
What is the need to make revaluation account?
Revaluation account is opened whenever there is the reconstitution of partnership.it is done so that assets appearing on historical cost till now can be shown on their market values and the gain or loss be shared among the old parntners in old PSR before admission of new partner or among all the partners before retirement and many other situations also...as the case maybe
Community Answer
What is the need to make revaluation account?
becuse in a running business so many changes take place for ex reduceds in value of machinery etc ....this we have record in the revulation a/C ...........
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What is the need to make revaluation account?
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What is the need to make revaluation account? for Class 12 2024 is part of Class 12 preparation. The Question and answers have been prepared according to the Class 12 exam syllabus. Information about What is the need to make revaluation account? covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is the need to make revaluation account?.
What is the need to make revaluation account? for Class 12 2024 is part of Class 12 preparation. The Question and answers have been prepared according to the Class 12 exam syllabus. Information about What is the need to make revaluation account? covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is the need to make revaluation account?.
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