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Revaluation of Assets

Profit/loss o...

Question

Profit/loss on revaluation of assets is shared by the old partners in their :

A

old profit sharing ratio

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B

sacrificing ratio

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C

new profit sharing ratio

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D

capital ratio

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Solution

The correct option is A
old profit sharing ratio

Profit/loss on revaluation of assets is shared by the old partners in their old profit sharing ratio.

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Similar questions

Q. Profit/Loss on Revaluation of Assets & Liabilities is shared by the old partners in their _______.

Profit/Loss on Revaluation of Assets & Liabilities on the retirement of a partner is shared by the partners in their:

Q. Profit/Loss on Revaluation of Assets & Liabilities on the retirement of a partner is shared by the partners in their ________.

Q. Consider the following statements :
1. At the time of admission of new partner undistributed profit or losses are distributed to all partners in new ratio.
2. Profit or loss on revaluation of assets and liabilities is transferred to old partner's capital account in old profit sharing ratio.
3. Goods brought in by incoming partner in cash for joining in a partnership firm is taken away by the old partner's in their new profit-sharing ratio.
Which of the above statement/s is/are true ?

Q. Profit or loss on revaluation is shared among the partners in ________.

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