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Balance sheet prepared after new partnership agreement, assets and liabilities are recorded at: -

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Question

Balance sheet prepared after new partnership agreement, assets and liabilities are recorded at:

Options

  • Revalued figure

  • Original value

  • At realisable value

  • None of the options

MCQ

Solution

Revalued figure

shaalaa.com
Accounting for Revaluation of Assets and Reassessment of Liabilities
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