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प्रश्न
In case of retirement of a partner, profit or loss on revaluation of assets and re-assessment of liabilities is distributed among ______ partners in ______ ratio.
रिक्त स्थान भरें
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उत्तर
In case of retirement of a partner, profit or loss on revaluation of assets and re-assessment of liabilities is distributed among all existing partners in old profit sharing ratio.
Explanation:
Revaluation profit or loss relates to the period before the retirement of the partner. Therefore, it belongs to all partners who shared profits earlier, including the retiring partner, and is divided in the old ratio.
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