Q 10: In which ratio, will the old
partners share Gain or Loss arising
from revaluation of assets and
liabilities ?
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Q 10: In which ratio, will the old
partners share Gain or Loss arising
from revaluation of assets and
liabilities ?
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Answer:
In case of Change in Profit Sharing Ratio, the profit or loss determined after revaluation of assets and liabilities will be distributed among the partners in their old profit sharing ratio.
Answer:
They will share in old ratio.