Question : At the time of reconstitution of a partnership firm, recording of an unrecorded stock of stationery of Rs. 3000 will lead to:
Option 1: Loss to the existing partners
Option 2: Gain to the existing partners
Option 3: Neither gain nor loss of the existing partners
Option 4: None of the above
Correct Answer: Gain to the existing partners
Solution : Answer = Gain to the existing partners
Recording an unrecorded stock of stationery of Rs. 3000 during the reconstitution of a partnership firm will lead to a gain for the existing partners. This is because the value of the stationery, which was previously unaccounted for, will now be added to the partnership's assets, increasing the partners' collective equity. Hence, the correct option is 2.
Question : At the time of reconstitution of a partnership firm, recording of an unrecorded liability will lead to:
Question : Change in the existing agreement between the partners is called
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Question : Choose which of the following statements is correct.
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