Question

Situations where memorandum revaluation account is prepared

Answer 1

Explanation:

In mathematics, an equation is a statement that asserts the equality of two expressions, which are connected by the equals sign

Answer 2

Memorandum revaluation account is prepared when at the time of admission/retirement of partner, the partnership firm does not want to change the value of assets and liabilities in the balance sheet but want to give effect of it through partner's capital account.

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