Explain why the assets of a partnership are usually revalued before the admiss

Explain why the assets of a partnership are usually revalued
before the admission of a new partner or the retirement of
an existing partner

Question Posted / lakminikk

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Explain why the assets of a partnership are usually revalued before the admission of a new partner..

Answer / ullas patil kulkarni

Beacause the value of GOODWILL will defer, so the
partnership usually revalue its assets, to take an new
amount of goodwill from the new partner and to give shrae
of goodwill to the retiring partner.

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