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On the admission of a new partner the decrease in the value of assets is debited to

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On the admission of a new partner the decrease in the value of assets is debited to.

(a)  Profit and loss adtustment A/C

(b)  Assets account

(c)  Old partner’s capital Account

(d)  None of these

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On the admission of a new partner the decrease in the value of assets is debited to Profit and loss adtustment A/C

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