Accountancy, asked by Priyankagera6726, 7 months ago

Gain or loss arising from revaluation is shared by partners in ratio

Answers

Answered by dhriti21

0

Explanation:

he has no contribution in the firm all assets and liabilities so that the profit and loss on revalution is sharing in old ratio with the old partners. PRofit or loss on revaluation is shared among the partners in old profit sharing ratio because any profit or loss is the result of business activity of old partners. .

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