In case of change in profit sharing rati

CUET Preparation Today

Start Free Mocks

Home Questions KBO0PRYZSM

Target Exam

CUET

Subject

Accountancy Part A

Chapter

Accounting for Partnership

Question:

In case of change in profit sharing ratio, which of the following account or statement is not usually prepared ?

Options:

Revaluation Account

Profit & Loss Acount

Partner’s Capital Account

Balance Sheet

Correct Answer:

Profit & Loss Acount

Explanation:

The correct answer is Option (2) →

Profit & Loss Acount