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Class 12 Accountancy Reconstitution - Admission of a Partner Asset RevaluationEasy

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What is the effect on Revaluation Account when provision for doubtful debts is decreased?

Answer and explanation

Correct answer: It will be credited

Decrease in provision is a gain because deduction from debtors is reduced. Credit decrease in provision.

Related tags

Provision-Decrease Gain Revaluation Asset Revaluation Reconstitution Admission Of A Partner Accountancy Class 12 Mcq

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