Question

A revaluation account is operated to find out the gain or loss at the time of ______

विकल्प

• Retirement of partner

• Admission of partner

• Death of a partner

• All of the above

Answer 1

All of the above

Explanation:

The liabilities are also reassessed so that they are entered into the books at their correct values. There may be some unrecorded assets and liabilities of the company at times. These must also be recorded in the company's books. The Revaluation Account must be prepared for this purpose.