State the Ratio in Which the Partners Share Profits Or Losses on the Revaluation of Assets and Liabilities When There is a Change in Profit Sharing Ratio Amongst Existing Partners? - Accountancy
State the ratio in which the partners share profits or losses on the revaluation of assets and liabilities when there is a change in profit sharing ratio amongst existing partners?
When there is a change in profit sharing ratio amongst existing partners, the revaluation profit or loss will be shared by the partners in their old Ratio.
Concept: Change in the Profit Sharing Ratio Among the Existing Partners
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