Increase in the value of assets on reconstitution of the partnership firm results into:
A. Gain to the existing partners
B. Loss to the existing partners
C. Neither a gain nor a loss to the existing partners
D. None of these
Answer:A
Increase in the value of assets on reconstitution of the partnership firm results into:
A. Gain to the existing partners B. Loss to the existing partners C. Neither a gain nor a loss to the existing partners D. None of these