Question

On reconstitution of a partnership firm, recording of an unrecorded liability will result in ______.

At the time of reconstitution of a partnership firm, recording of an unrecorded liability will lead to ______.

विकल्प

• Gain to the existing partners

• Loss to the existing partners

• Neither gain nor loss to the existing partners

• None of these

Answer 1

On reconstitution of a partnership firm, recording of an unrecorded liability will result in Loss to the existing partners.