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Fill in the Blanks: 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. - Accountancy

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Fill in the Blanks

Fill in the blanks:
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.

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Solution

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.

Concept: Retirement Or Death of a Partner - Revaluation of Assets and Liabilities
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