In converting a to a partnership company, the loss on asset revaluation is?
FINANCIAL
JAMB 2006
In converting a to a partnership company, the loss on asset revaluation is?
- A. debited to the revaluation account
- B. debited to the profit and loss account
- C. credited to the revaluation account
- D. credited to the profit and loss account
Correct Answer: B. debited to the profit and loss account
Post an Explanation Or Report an Error
If you see any wrong question or answer, please leave a comment below and we'll take a look. If you doubt why the selected answer is correct or need additional more details? Please drop a comment or Contact us directly. Your email address will not be published. Required fields are marked *