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At admission goodwill is not being treated separately and only assets are being revalued. Which of the following item will appear in Revaluation Account?

Answer and explanation

Correct answer: Increase in building value

Increase in building value is part of asset revaluation. Goodwill premium and capital are recorded in separate accounts.

Related tags

Asset RevaluationBuildingGoodwill DistinctionReconstitution Admission Of A PartnerAccountancyClass 12 Mcq

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