Which of the following would affect the Revaluation Account at the time of admission of a partner? Option 1: (A), (B) and (C) only Option 2: (A), (B) and (D) only Option 3: (A), (C) and (D) only Option 4: (B), (C) and (D) only

The answer is '(A), (C) and (D) only'. View full solution:

CUET Accountancy - Which of the following would affect the Revaluation Account at the time of admission of a partner? | PYQs + Solutions

CUET Accountancy

Partnership

Easy

(A), (B) and (C) only

(A), (B) and (D) only

(A), (C) and (D) only

(B), (C) and (D) only

✅ Correct Option: 3

Related questions:

22 May Shift 2

As per AS-26 Intangible assets like goodwill should be written off.

16 July Shift 2

Arrange the following steps to calculate value of Goodwill by capitalization method of super profit in a proper sequence.

A. Calculate normal profit on capital employed

B. Actual Profits - Normal Profits = Super Profit

C. $\frac{super\ profit \times 100}{Normal\ rate\ of\ returns}$

D. Calculate actual profits on capital employed

Choose the correct answer from the given options

29 May Shift 2

Read the following facts about admission of a partner.

A. A new partner acquires his share from the old partners that reduces the old partners share in profits.

B. The partner's capital must be adjusted so as to be proportionate to their new profit sharing ratio.

C. Assets and Liabilities may be revalued and reassessed on admission of a partner.

D. Adjustment for Reserves and Accumulated profits/loss is done.

E. Profit sharing ratio of existing partners may change on admission of a new partner.

Choose the correct answer from the options given below: