Ask a Question

At the time of reconstitution of a partnership firm, recording of an unrecorded liability will lead to:

0 votes
133 views
in Accountancy by (98.9k points)
edited

At the time of reconstitution of a partnership firm, recording of an unrecorded liability will lead to:

(A) Gain to the existing partners

(B) Loss to the existing partners

(C) Neither gain nor loss to the existing partners

(D) None of the above

1 Answer

0 votes
by (98.9k points)
selected by
 
Best answer

Correct answer is: (B) Loss to the existing partners

Related questions

0 votes
1 answer 117 views
At the time of dissolution of partnership firm _ account is prepared.
asked Jul 21, 2022 in Accountancy by Doubtly (98.9k points)
0 votes
1 answer 107 views
Unrecorded liability will be __ to realisation account when paid.
asked Jul 21, 2022 in Accountancy by Doubtly (98.9k points)
0 votes
1 answer 109 views
How will you treat accumulated profit/losses at the time of dissolution of the firm
asked Jul 21, 2022 in Accountancy by Doubtly (98.9k points)

Doubtly is an online community for engineering students, offering:

  • Free viva questions PDFs
  • Previous year question papers (PYQs)
  • Academic doubt solutions
  • Expert-guided solutions

Get the pro version for free by logging in!

Most popular tags

jeemain geography-10th engineering physics semester 5 web computing

5.7k questions

5.1k answers

108 comments

554 users

Doubtly
...