Accountancy, asked by anushka3992, 1 year ago

what is the difference between memorandum revaluation account and revaluation account??​

Answers

Answered by ploughcity49
2

Memorandum Revaluation Account is prepared when at the time of admission/retirement the partnership firm does not want to change the values of assets and liabilities in the balance but wants to give its effect through partners' capital accounts.

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