What treatment is made for accumulated profits on the retirement of a partner?

a.

Credited to remaining partners capital accounts in new ratio

b.

Credited to remaining partners capital accounts in gaining ratio

c.

Credited to all partners capital accounts in old ratio

d.

Debited to all partners capital accounts in old ratio

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Balance sheet prepared after new partnership agreement, assets and liabilities are recorded at:

a.

None of the options

b.

At realizable value

c.

Original value

d.

Revalued figure