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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
Fill in the Blanks
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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