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Profit or loss on revaluation is transferred to all partners' capital accounts in case of retirement of a partner. [State True/False]
Profit or loss on revaluation is transferred to all partners' capital accounts in case of retirement of a partner. [State True/False]
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Contrast this with Admission: On admission of a new partner, the revaluation profit/loss is shared ONLY among the \textit{old} partners, because the new partner has no right over past accumulated profits/losses.
Updated On: Mar 16, 2026
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