Profit or Loss on Revaluation on admissi

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Target Exam

CUET

Subject

Accountancy

Chapter

Admission of a Partner

Question:

Profit or Loss on Revaluation on admission of a partner is borne by whom?

Options:

Old Partners

New Partners

All partners

Suspense a/c

Correct Answer:

Old Partners

Explanation:

Profit or Loss on Revaluation on admission of a partner is borne old partners.