Profit or loss on revaluation of assets and liabilities at the time of retirement of a partner is shared by

ExamLookup

Tally : ACCOUNTING MASTERS IN TALLY ERP9

Profit or loss on revaluation of assets and liabilities at the time of retirement of a partner is shared by

A. all partners in their old ratio

B. remaining partners in old ratio

C. remaining partners in gaining ratio

D. retired partner only

Solution

A. all partners in their old ratio