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Class 12 Accountancy Reconstitution - Admission of a Partner Asset RevaluationMedium

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Which of the following item will not go to revaluation account?

Answer and explanation

Correct answer: Accumulated profit

Accumulated profit is distributed separately among old partners. Revaluation account is for changes in assets and liabilities.

Related tags

Accumulated Profit Not Revaluation Concept Asset Revaluation Reconstitution Admission Of A Partner Accountancy Class 12 Mcq

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