We do the revaluation of assets and liabilities because only the partners want to share all the gains or losses between them.

existing

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

new

No worries! We‘ve got your back. Try BYJU‘S free classes today!

sacrificing

No worries! We‘ve got your back. Try BYJU‘S free classes today!

gaining

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is A existing
We revalued all the assets and liabilities which required a revaluation because the existing partners wanted to share all the gains or losses between them without involving the new partner.

Suggest Corrections

Similar questions

We do the revaluation of assets and liabilities because the ____________ partners wanted to share all the gains or losses between them without involving the _________ partner

Q. State the ratio in which the partners share the gain or loss on revaluation of assets and liabilities.

Q. Short answer type question:
State the ratio in which the partners share gain or loss from revaluation. of assets and liabilities.

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

Q. At the time of retirement, the assets and liabilities are revalued so that the partners' share in profit/loss due to revaluation can be ascertained.

Join BYJU'S Learning Program

We do the revaluation of assets and liabilities because only the partners want to share all the gains or losses between them.

The correct option is A existingWe revalued all the assets and liabilities which required a revaluation because the existing partners wanted to share all the gains or losses between them without involving the new partner.

The correct option is A existing
We revalued all the assets and liabilities which required a revaluation because the existing partners wanted to share all the gains or losses between them without involving the new partner.