Financial and Management Accounting

1: Assets and liabilities are revalued at the time of admission of a new partner because
A.
The new partner should not be benefitted from any appreciation in the value of assets.
B.
The new partner should not suffer because of any depreciation in the value of assets.
C.
The new partner should not benefit from any diminution in liabilities or suffer from any appreciation in liabilities.
D.

All of the above

 

Answer : D

Explanation :

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Option: A

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