SOLUTION
It is necessary to revalue assets and liabilities of a firm in case of admission of a partner so that the incoming partner is neither put to an advantage nor to disadvantage due to change in the market value of assets and liabilities.
Why is it necessary to revalue assets and liabilities of a firm in case of admission of a partner? (C.B.S.E. Sample Paper 2018)
- Post category:Accountancy
- Reading time:1 mins read