Practicing Success
Practicing Success
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| While doing revaluation of assets and liabilities of a partnership firm, Revaluation A/c is ..........., if bad debts of ₹10000 are recovered which are written off as bad debts last year. |
Debited Credited No use of revaluation A/c None of these |
| Credited |
| It is a gain for the firm and in case of gain, the revaluation account is credited. |
