Under what circumstances is there a need to revalue assets and reassess liabilities?
Under what circumstances is there a need to revalue assets and reassess liabilities?
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There is a need to revalue assets and reassess liabilities in the following circumstances:
(i) When there is change in the profit sharing ratio
(ii) On admission of a new partner
(iii) On retirement or death of a partner
Anurag Pathak Changed status to publish
