Decrease in the value of Liabilities on reconstitution of the partnership firm results into
A. Gain to the Existing Partner
B. Loss to the Existing Partner
C. Neither Gain of loss to Existing partner
D. None of the options
Answer:A
Decrease in the value of Liabilities on reconstitution of the partnership firm results into
A. Gain to the Existing Partner B. Loss to the Existing Partner C. Neither Gain of loss to Existing partner D. None of the options