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
    When a new partner is admitted, the balance of 'General Reserve' appearing in the balance sheet at the time of admission is credited to:

    A) Profit and Loss Appropriation Account

    B) Capital Accounts of all the Partners

    C) Capital Accounts of Old Partners

    D) Revaluation Account

    Correct Answer: C

    Solution :

    [c] Capital Accounts of Old Partners


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