R, K and S are sharing profits and losses in the ratio of 5 : 4 : 1. They decide to share future profits and losses in the ratio of 1 : 4 : 5 with effect from 1st April, 2019. On that date, they revalued their assets and reassessed their liabilities. They had an unrecorded asset. Answer the following questions:i. Revaluation a/c is a a. Real a/c b. Nominal a/c c. Personal a/c d. None of the aboveii. Revaluation of assets is necessary because their present value may be different from their ……………………….. a. Book value b. Market value c. Both a. and b. d. None of the aboveiii. What is unrecorded asset? a. Assets which physically exist but not shown in the Balance sheetb. Assets which physically do not exist and not shown in the Balance sheet c. Assets which physically exist but shown in the Balance sheet d. None of the aboveiv. The partner(s) who will share Gain or loss on revaluation are a. R,K,S b. Both R and S c. Only S d. Only R