Assets are revalued and liabilities are reassessed at the time of change in profit-sharing ratio so thatA. assets and liabilities are shown at their present valueB. gaining partner is not put to an advantage and sacrificing partner is not put to disadvantage and vice versaC. Both (a) and (b)D. None of the above

Assets are revalued and liabilities are reassessed at the time of chan

1.	Assets are revalued and liabilities are reassessed at the time of change in profit-sharing ratio so thatA. assets and liabilities are shown at their present valueB. gaining partner is not put to an advantage and sacrificing partner is not put to disadvantage and vice versaC. Both (a) and (b)D. None of the above
Answer» gaining partner is not put to an advantage and sacrificing partner is not put to disadvantage and vice versa

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