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Retiring partner loan account is prepared after which process?

Answer and explanation

Correct answer: After finding final amount due in capital account

First goodwill revaluation and other adjustments are completed in capital account. Loan account is prepared only after final amount due is found.

Related tags

Partners-LoanSequenceSettlementPartner's Loan AccountPartner S Loan AccountReconstitution Retirement Or Death Of A PartnerAccountancyClass 12 Mcq

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