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Question 39 Not yet answered Marked out of 1.00 P Flag question In which of the following situations revaluation account is credited? d. Decrease in the amount of assets c. Increase in the amount of liabilities a. Decrease in the amount of liabilities b. When goodwill is revalued Question 40 Not yet answered Marked out of 1.00 P Flag question A and B are partner sharing profits and losses in the ratio of 1:1. They admit a new partner C into the firm. A surrenders / of his share and B surrenders 1/3rd of his in favour of the new partner. What is the sacrifice made by A in favour of C? b. 1/8 a. 14 c. 1/6 d. 1/3 Question 41 Not yet answered Marked out of 1.00 Flag question A, B and C are partners sharing profits and losses equally.The firm is dissolved. Mr C is agreed to takeover the stock. When the stock is taken over by Mr.C the account to be debited is: b. Realisation account d. Stock account c. Revaluation account a. C's capital account