Question

(viii) On change in profit sharing ratio, appreciation in the value of asset is debited to:
(a) Assets A/C
(b) Partners' Capital Alc
(c) Revaluation Alc
(d) None of the above
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Answer 1

Answer:

(c) Revaluation A/c

Explanation:

On change in profit sharing ratio, appreciation in the value of asset is debited to revaluation A/c