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Questions
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 ______.
Options
Gain to the existing partners
Loss to the existing partners
Neither gain nor loss to the existing partners
None of these
MCQ
Fill in the Blanks
Solution
On reconstitution of a partnership firm, recording of an unrecorded liability will result in Loss to the existing partners.
shaalaa.com
Change in Profit Sharing Ratio Among the Existing Partners
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