The adjustment required at the time of reconstitution of a partnership firm is/are
The adjustment required at the time of reconstitution of a partnership firm is/are
a) Adjustment of Goodwill
b) Distribution of Accumulated profits and reserves
c) Revaluation of Assets and Reassessment of Liabilities
d) All of the above
Anurag Pathak Changed status to publish May 5, 2023
Ans – d)
Explanation:-
At the time of reconstitution of a partnership firm, the goodwill is adjusted. accumulated profit and reserves are distributed. Revaluation of assets and reassessment of liabilities is done due to a change in profit sharing ratio.
Anurag Pathak Changed status to publish May 3, 2023
