Which of the following is related to partnership accounts at the time of admission of a new partner?

A) Capital Account
B) Balance Sheet
C) Revaluation Account
D) Dissolution Account
E) Income & Expenditure Account

Choose the correct answer from the options given below.

A, B, C

The correct answer is option 3- A, B, C.

A) Capital Account- This is made by partnership firm at the time of admission of partner to know the capital balance of old partners including new partner.

B) Balance Sheet- This is made by the partnership firm to know the financial position of the partnership firm at the time of admission of the new partner.

C) Revaluation Account- This is made at the time of admission of partner. When a new partner is admitted, the partnership might revalue its assets to reflect their current market value. If there's an increase in the value of assets or decrease in liabilities, it would be recorded on the credit side of the revaluation account as it is a gain of the firm and vice versa.

D) Dissolution Account- No dissolution Account made by a partnership firm. At the time of dissolution realisation account is made not dissolution account.

E) Income & Expenditure Account- Income and expenditure A/c is made by the non-profit organisation not by the partnership firm.

So, the correct answer is A, B & C.