Profit or Loss on revaluation of assets and reassessment of liabilities is transferred to partners capital account in their –

3. Profit or Loss on revaluation of assets and reassessment of liabilities is transferred to partners capital account in their:

  1. Capital ratio
  2. Equal ratio
  3. Old profit-sharing ratio
  4. Gaining ratio

Answer: C) Old profit-sharing ratio

Explanation:

Profit or Loss on revolution of each asset and reassessment of liabilities is transferred to the partners capital account in their old profit-sharing ratio.

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