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The incoming partner is entitled to have any share in the undistributed profit & loss: a. May be b. Not at all c. Always d.

The incoming partner is entitled to have any share in the undistributed profit & loss:

a.

May be

b.

Not at all

c.

Always

d.

Sometimes

_________________________________________________________________

Excess of credit side over the debit side of revaluation account is:

a.

Loss

b.

Gain

c.

Profit

d.

Expense

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