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Write the Word/Term/Phrase which can substitute of the following statement: Partner’s Account where Loss or Profit on revaluation is transferred. - Book Keeping and Accountancy

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Question

Write the Word/Term/Phrase which can substitute of the following statement:

Partner’s Account where Loss or Profit on revaluation is transferred.

One Word/Term Answer
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Solution

Capital/Current Account.

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Chapter 4: Reconstitution of Partnership (Retirement of Partner) - Exercise 4.1 (Objective Questions) [Page 182]

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Balbharati Book-Keeping and Accountancy [English] Standard 12 Maharashtra State Board
Chapter 4 Reconstitution of Partnership (Retirement of Partner)
Exercise 4.1 (Objective Questions) | Q (B) 6. | Page 182
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