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Question
At the time of retirement, the amount remaining in Investment Fluctuation Reserve after meeting the fall in the value of Investments is:
Options
Credited in Sacrificing Ratio
Credited in New Profit Sharing Ratio
Credited in Old Profit Sharing Ratio
Credited in Gaining Ratio
MCQ
Solution
Credited in Old Profit Sharing Ratio
Explanation:
The amount remaining in the Investment Fluctuation Reserve after meeting the decline in value of Investments is credited to All Partner's capital account at the time of a partner's retirement.
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Retirement and Death of a Partner - Calculation of New Profit Sharing Ratio
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