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प्रश्न
State Whether the following Statement is True or False:
Revaluation of Assets and Liabilities of the firm is not necessary in case of retirement of a partner from the firm.
चूक किंवा बरोबर
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उत्तर
The statement is false.
Explanation:
Revaluation of assets and liabilities is generally necessary at the time of retirement to determine the retiring partner’s correct share of profit or loss arising from revaluation.
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