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State Whether the following Statement is True or False: Recording of unrecorded assets on the reconstitution of partnership firm is a gain to the existing partners.

State Whether the following Statement is True or False:

Recording of unrecorded assets on the reconstitution of partnership firm is a gain to the existing partners.

True or False

The statement is true.

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Chapter 2: Change in Profit Sharing Ratio among the Existing Partners - OBJECTIVE TYPE QUESTIONS [Page 2.97]

Chapter 2 Change in Profit Sharing Ratio among the Existing Partners
OBJECTIVE TYPE QUESTIONS | Q (B) 11. | Page 2.97

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