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Which of the following is not required to be adjusted at the time of change in the profit sharing ratio? -

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Question

Which of the following is not required to be adjusted at the time of change in the profit sharing ratio?

Options

  • Determination of sacrificing ratio and gaining ratio

  • Accounting treatment of Goodwill

  • Revaluation of assets and reassessment of liabilities

  • Determination of the capital of the partners

MCQ

Solution

Determination of the capital of the partners

Explanation:

The sacrificing and gaining ratios must be calculated, goodwill must be modified, and assets and liabilities must be updated when the profit sharing ratio is changed, but the capital of the partners does not have to be determined.

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Change in Profit Sharing Ratio Among the Existing Partners
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