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Class 12 Accountancy Reconstitution - Admission of a Partner Asset RevaluationEasy

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Among which partners is revaluation profit distributed?

Answer and explanation

Correct answer: Old partners in old ratio

Revaluation profit belongs to the period before admission so it belongs to old partners. Share it in the old profit-sharing ratio.

Related tags

Revaluation-Profit Old-Ratio Admission-Partner Asset Revaluation Reconstitution Admission Of A Partner Accountancy Class 12 Mcq

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