CA CPT June 2018 Question Paper Fundamentals of Accounting for online practice

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Question : 39 of 53

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Policy value of JLP - Rs. 3,00,000 Surrender value - Rs. 60,000If one of the partners retires and the firm is following JLP Reserve Method_______

Surrender value is distributed to the partners as per new profit sharing ratio
Policy value is distributed to the partners as per old profit sharing ratio.
JLP Reserve is distributed to the partners as per old profit sharing ratio
JLP Reserve is distributed to the partners as per new profit sharing ratio

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