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Select the most appropriate answer from the alternatives given below : The profit or loss from revaluation on retirement of partners is shared by _____________ - Book Keeping and Accountancy

MCQ
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Select the most appropriate answer from the alternatives given below : 
The profit or loss from revaluation on retirement of partners is shared by _____________

Options

  • all the partners

  • the remaining partners

  • only the retiring partners

  • none of these

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Solution

The profit or loss from revaluation on the retirement of partners is shared by all the partners.
 
Explanation: Revaluation profit arising from the retirement of a partner is shared by all the partners in their old profit sharing ratio (including the retiring partner).
Concept: Retirement Or Death of a Partner - Revaluation of Assets and Liabilities
  Is there an error in this question or solution?
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APPEARS IN

Micheal Vaz Accounts - Book Keeping and Accountancy HSC 12th Standard Maharashtra State Board
Chapter 4 Reconstitution of Partnership (Retirement of Partnership)
Exercise | Q 1 | Page 127
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