2. Questions Bank
  3. 12th Class
  4. Accountancy
  5. Admission of a Partner

12th Class Accountancy Admission of a Partner Question Bank MCQs - Reconstitution Of a Partnership Firm : Admission of a Partner

  • question_answer
    Contingency reserve appearing in the balance sheet at the time of admission of a partner is ............ to old partners' capital accounts in old ratio.

    A) debited                

    B) credited

    C) Either [a] or [b]    

    D) None of these

    Correct Answer: B

    Solution :

    [b] credited


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