Guest Fljpp (Dancer)

A revaluation account is prepared when the structure of a partnership changes. This happens when a new partner is admitted, or when partners change their profit-sharing ratio.

The main reason is for fairness. The value of assets and liabilities in the books can be old. The market value today is maybe different. For example, a building purchased many years ago is now worth much more. It is not fair for a new partner to get the benefit of this past increase. This profit belongs to the old partners.

So, this account records all the increases and decreases. The final profit or loss from revaluation is shared only by the old partners in their old ratio. It makes sure the books show the true values before the new partnership starts.

The main place this happens is in your small intestine. It's a very long tube in your gut. The inner wall is not smooth. It is covered in millions of tiny fingers called villi. This gives it a really big surface area. It helps to absorb all the nutrients from food.

These nutrients pass through the wall of the intestine. They go straight into tiny blood vessels. Your blood then carries all this good stuff around the body for energy. Your large intestine mostly absorbs water after this part is done.