CUET Preparation Today
| Assertion (A): An increase in the value of assets and a decrease in the value of the liability at the time of admission of a partner is debited to the Revaluation Account. Reason (R): Revaluation Account is nominal in nature. |
Both Assertion (A) and reasoning (R) are correct and R is the correct explanation of A. Both Assertion (A) and reasoning (R) are correct and but R is not the correct explanation of A. Assertion (A) is true but Reasoning (R) is not correct. Assertion (A) is not true but Reasoning (R) is correct. |
| Assertion (A) is not true but Reasoning (R) is correct. |
| Increase in value of assets and decrease in value of liabilities are credited to Revaluation A/c. Thus Assertion is false. The Revaluation Account is a nominal account. Thus reason is true. |
