Identify the Cases when Revaluation Account is prepared.
(A) Admission of a partner
(B) Dissolution of a partnership firm
(C) Retirement of a partner
(D) Change in the profit-sharing ratio among existing partners
(E) Adjustment of Capitals of partners
Choose the correct answer from the options given below :

Correct option is A

The Revaluation Account is prepared in cases of:
(A) Admission of a partner,
(C) Retirement of a partner, and
(D) Change in the profit-sharing ratio among existing partners.
It is used to adjust the values of assets and liabilities when there are changes in the partnership