Question

At the time of retirement of a partner, profit on revaluation will be credited to :

(A) Capital Account of retiring partner
(B) Capital Accounts of all partners in the old profit sharing ratio.
(C) Capital Accounts of the remaining partners in their old profit sharing ratio
(D) Capital Accounts of the remaining partners in their new profit sharing ratio

Answer 1

(B) Capital Accounts of all partners in the old profit sharing ratio.