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Class 12 Accountancy Reconstitution - Admission of a Partner Asset RevaluationEasy

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If the value of stock decreases then which account will be credited?

Answer and explanation

Correct answer: Stock Account

When stock value falls Revaluation Account is debited and Stock Account is credited. Credit the asset when it decreases.

Related tags

Stock-Decrease Journal-Entry Asset Asset Revaluation Reconstitution Admission Of A Partner Accountancy Class 12 Mcq

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