Partnership

Accountancy

What is the difference between conversion and sale of firm to company. The entries are same in all sums

venkatesh sundharamoorthy

CA Final

★ 34K+

14-Oct-21 09:12

574

Answers (1)

Best Answer

conversion - existing partnership converted sale - the firm is sold to an existing company There would not be much of a difference from accounting perspective.

CA Suraj Lakhotia

Admin

14-Oct-21 10:09