Question

Which important accounting aspects are considered at the time of the retirement or death of partner ?​

Answer 1

Answer:

Revaluation of Assets and Liabilities:

Revaluation of assets and liabilities is equally necessary at the time of retirement of a partner, as at admission. The revaluation is done on the same principles as in case of admission. Even if he Partnership Deed is silent, it is better to revalue assets and liabilities.

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