During retirement, the revaluation resul

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Target Exam

CUET

Subject

Accountancy Part A

Chapter

Reconstitution of Partnership Firm: Retirement and Death

Question:

During retirement, the revaluation results in a loss. Which partner(s) should bear the loss?

Options:

Only Retiring Partner

Only Continuing Partner(s)

All the partners in old profit sharing ratio

Remaining partners in gaining ratio

Correct Answer:

All the partners in old profit sharing ratio

Explanation:

The correct answer is Option (3) →

All the partners in old profit sharing ratio