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Class 12 Accountancy Reconstitution - Admission of a Partner Asset RevaluationEasy

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If an unrecorded liability of ₹3500 is found then what is recorded in Revaluation Account?

Answer and explanation

Correct answer: ₹3500 debit

Unrecorded liability is a loss so it is debited to Revaluation Account. Link creation of liability with debit side.

Related tags

Unrecorded-Liability Numerical Debit Asset Revaluation Reconstitution Admission Of A Partner Accountancy Class 12 Mcq

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