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Doubt/query regarding solution of this Partnership sum

Accountancy

Why has the balance in Dena Bank overdraft account been cosidered part of Purchase Consideration, when there is no mention of the same being taken over? The onky liability that is taken over as mentioned in the question is Creditors. [Illustration 4: Video 11/12 of Amalgamation of Partnership module]

Kumarjit Dey

Kumarjit Dey

CA Inter

★ 4K+

30-May-20 15:32

313

Answers (3)

Best Answer

Generally upon conversion, all assets and liabilities are taken over as the business is continuing.

CA Suraj Lakhotia

CA Suraj Lakhotia

Admin

31-May-20 09:30

No one?

Thread Starter

Kumarjit Dey

Kumarjit Dey

CA Inter

★ 4K+

31-May-20 08:38

CA Suraj Lakhotia Admin

Generally upon conversion, all assets and liabilities are taken over as the business is continuing.

Ok thank you.

Thread Starter

Kumarjit Dey

Kumarjit Dey

CA Inter

★ 4K+

31-May-20 10:57

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