1.

Gain / loss on revaluation at the time of change in profit sharing ratio of existing partners is shared by ___(i)______ whereas in case of admission of a partner it is shared by____(ii)_____.(A) (i) Remaining Partners, (ii) All Partners.(B) (i) All Partners, (ii) Old partners.(C) (i) New Partner, (ii) All partner.(D) (i) Sacrificing Partner, (ii) Incoming partner.

Answer»

Correct answer is: (B) (i) All Partners, (ii) Old partners.

Gain / loss on revaluation at the time of change in profit sharing ratio of existing partners is shared by all Partners whereas in case of admission of a partner it is shared by old partners.



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