CUET Preparation Today
On the admission of a new partner in the partnership firm, increase in the value of assets is debited to which account? |
Revaluation Account Assets Account Old Partner's Capital Accounts None of the Above |
Assets Account |
The correct answer is option 2- Assets Account. On the admission of a new partner in the partnership firm, any increase in the value of assets is debited to Assets Account. On the admission of a new partner, increase in the value of assets is debited to asset account. |
