Which of the following would affect the Revaluation Account at the time of admission of a partner?
(A) Increase in assets
(B) Drawings against capital
(C) Recording of unrecorded assets
(D) Decrease in liabilities
Choose the correct answer from the options given below:

Correct option is C

At the time of admission of a partner, Revaluation account would be affected by
(A) Increase in assets: When the value of assets increases, the Revaluation account is credited to reflect the gain.
(C) Recording of unrecorded assets: The Revaluation account is credited when previously unrecorded assets are recognized and recorded.
(D) Decrease in liabilities: The Revaluation account is credited to reflect the gain when the liabilities decrease in value.
Drawings against capital does not affect revaluation account but capital account