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RP
Question Practice

In an admission scenario, if both assets and liabilities are revalued, what is essential?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 12
Accountancy
Accountancy Part - I
Reconstitution of a Partnershi...
Question Bank

In an admission scenario, if b...

Single Answer MCQ
Q-00082202

In an admission scenario, if both assets and liabilities are revalued, what is essential?

1

The profit-sharing ratio must remain unchanged.

2

Only assets need to be revalued.

3

Liabilities should also reflect current values.

4

Goodwill only needs adjustment.

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When can a new partner be admitted into a partnership firm?

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