In the revaluation account an increase in the value of land and building:
A) appears on the debit side
B) appears on the credit side
C) appears on the credit side of good will account
D) does not appear at all
Correct Answer:
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Q10: An incoming partner pays his share of
Q11: At the time of admission of a
Q12: A new partner may be admitted to
Q13: At the time of a new partner
Q14: In the revaluation account a decrease in
Q16: The partnership may come to an end
Q17: In case of retirement of a partner
Q18: Revaluation account is operated to find out
Q19: Partners equity is effected due to:
A)retirement of
Q20: The accounting procedure at the retirement of
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