In converting a to a partnership company, the loss on asset revaluation is?

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: Option B
Explanation
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