Question

Select the most appropriate answer from the alternatives given below :

The profit or loss from revaluation on retirement of partner is shared by ___________.
a) all the partners
b) the remaining partners
c) only retiring partner
d) none of these

Answer 1

The profit or loss from revaluation on retirement of a partner is shared by all the partners.

Explanation: Revaluation profit arising on retirement of a partner is shared by all the partners in their old profit sharing ratio (including the retiring partner).