Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Admission of a Partner

Question:
The balance of Revaluation Account is transferred to old Partner's Capital Accounts in which ratio?
Options:
Old profit-sharing ratio
New profit-sharing ratio
Equal ratio
Sacrificing Ratio
Correct Answer:
Old profit-sharing ratio
Explanation:
Profit or loss on revaluation of assets and liabilities is transferred to old partner's capital account in old profit sharing ratio.