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If balance of Revaluation Account is transferred to old partners current accounts what capital method may it indicate?

Answer and explanation

Correct answer: Fixed capital method

Under fixed capital method such adjustments are often made through current accounts. In exams identify capital and current account treatment.

Related tags

Fixed CapitalCurrent AccountRevaluationAsset RevaluationReconstitution Admission Of A PartnerAccountancyClass 12 Mcq

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