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Question
The Profit or Loss from revaluation on the retirement of a partner is shared by ______.
Options
The remaining partners
All the partners
Only retiring partner
Bank
Solution
The Profit or Loss from revaluation on the retirement of a partner is shared by all the partners.
RELATED QUESTIONS
Decrease in the value of assets should be ______ to Profit and Loss Adjustment Account.
State whether the following statement is true or false with reason.
Retiring partner is not entitled to share in general reserve and accumulated profit.
Decrease in the value of assets should be ______ to Profit and Loss Adjustment Account.
Decrease in the value of assets should be ______ to Profit and Loss Adjustment Account.
Do you agree or disagree with the following statements:
Accumulated profit is to be shown on Assets side of Balance sheet.
Decrease in the value of assets should be ______ to Profit and Loss Adjustment Account.
Retiring partner is entitled to share in Reserve Fundand Accumulated Profit.
Decrease in the value of assets should be ______ to Profit and Loss Adjustment Account.
Decrease in the value of assets should be ______ to Profit and Loss Adjustment Account.
Decrease in the value of assets should be ______ to Profit and Loss Adjustment Account.
Decrease in the value of assets should be ______ to Profit and Loss Adjustment Account.
Decrease in the value of assets should be ______ to Profit and Loss Adjustment Account.
Descrease in the value of assets should be ______ to Profit and Loss Adjustment Account.
