At the time a new partner is admitted, revaluation of assets and liabilities is made for the: Option 1: benefit of old partners Option 2: benefit of new partners Option 3: mutual benefit of old and new partners Option 4: none of the above

The answer is 'benefit of old partners'. View full solution:

CUET Accountancy - At the time a new partner is admitted, revaluation of assets and liabilities is made for the: | PYQs + Solutions

CUET Accountancy 2022 8 Aug Shift 2

Partnership

Easy

benefit of old partners

benefit of new partners

mutual benefit of old and new partners

none of the above

✅ Correct Option: 1

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