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At the time of retirement of a partner, profit on revaluation will be credited to the capital accounts of ______. -

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Question

At the time of retirement of a partner, profit on revaluation will be credited to the capital accounts of ______.

Options

  • Retiring Partner

  • All partners in their old profit sharing ratio

  • The remaining partners in their old profit sharing ratio

  • The remaining partners in their new profit sharing ratio

MCQ
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Solution

At the time of retirement of a partner, profit on revaluation will be credited to the capital accounts of all partners in their old profit sharing ratio.

shaalaa.com
Retirement or Death of a Partner - Revaluation of Assets and Liabilities
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