Assertion (A): At the time of admission of a new partner unrecorded liability are debited to Revaluation account.Reason(R): Unrecorded liabilities are the gain for the partnership firm. a) Both Assertion (A) and Reason (R) are true. b) Both Assertion (A) and Reason (R) are false. c) Assertion (A) is true and Reason (R) is false. d) Assertion (A) is false and Reason (R) is true.

Assertion (A): At the time of admission of a new partner unrecorded li

1.	Assertion (A): At the time of admission of a new partner unrecorded liability are debited to Revaluation account.Reason(R): Unrecorded liabilities are the gain for the partnership firm. a) Both Assertion (A) and Reason (R) are true. b) Both Assertion (A) and Reason (R) are false. c) Assertion (A) is true and Reason (R) is false. d) Assertion (A) is false and Reason (R) is true.
Answer» Correct option is c) Assertion (A) is true and Reason (R) is false.

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