Question

profit and loss on revaluation is borne by.
a)old partner
b)new partner
c)all partner
d) only two partner

Answer 1

Profit and loss on revaluation is borne by a) Old partner.

Answer 2

Option A is correct i.e. is old partner .

As if their is any loss or profit in the revaluation account it will be borne by old partners in their old profit sharing ratio.

Revaluation is a nominal account which is prepared when any partner is admitted or is retired in the partnership or partnership firm is revalued or is formed again.

In this account all the loss or expenses are debited and all the income and gain are credited.