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Assets are revalued and liabilities are reassessed at the time of change in profit sharing ratio so that

a) assets and liabilities are shown at their present values

b) gaining partner is not put to an advantage and sacrificing partner is not put to disadvantage and vice-versa

c) Both a) and b)

d) assets and liabilities are shown at their market values.

 

Anurag Pathak Changed status to publish May 5, 2023
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