When the balance sheet is prepared after the new partnership agreement, the assets and liabilities are recorded at Options: A . &nbspHistorical cost B . &nbspCurrent cost C . &nbspRevalued figures D . &nbspAll of above

When the balance sheet is prepared after the new partnership agreement, the ass

Question

When the balance sheet is prepared after the new partnership agreement, the assets and liabilities are recorded at

Options:

A . Historical cost

B . Current cost

C . Revalued figures

D . All of above

Answer: Option C

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Question 1. On admission of a new partner balance of General Reserve Account should be transferred to the capital account of....

Question 2. At the time of admission of a new partner, ________ of assets and liabilities should be taken up....

Question 3. _________ ratio is computed at the time of admission of a new partner....

Question 4. The old partners share all the accumulated profits and reserves in their....

Question 5. On admission of a new partner, increase in value of assets is debited to....

Question 6. The difference between old profit sharing ratio and new profit sharing ratio at time of admission is ________ ratio....

Question 7. In admission, profit from revaluation of assets and liabilities will be transferred to the capital accounts of the old ....to the capital accounts of the old partners in the

Question 8. At the time of admission, when goodwill is raised, the old partners capital account will be credited in the ________ ra....partners capital account will be credited in the ________ ratio

Question 9. The capital accounts of partners may be ________ or fluctuating....

Question 10. Indian Partnership Act was enacted in the year ________....

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