On the retirement of a partner, profit on revaluation of assets and liabilities should be credited to the Capital Accounts of:
A. All partners in the old profit-sharing ratio
B. The remaining partners in their old profit-sharing ratio
C. The remaining partners in their new profit-sharing ratio
D. None of these
Answer:A
On the retirement of a partner, profit on revaluation of assets and liabilities should be credited to the Capital Accounts of:
A. All partners in the old profit-sharing ratio B. The remaining partners in their old profit-sharing ratio C. The remaining partners in their new profit-sharing ratio D. None of these