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
    If at the time of admission, some balance of Profit and Loss Account appears in the books, it will be transferred to:

    A) Revaluation Account

    B) Profit and Loss Appropriation Account

    C) Capital/current Accounts of all the partners 

    D) Capital/current Accounts of old partners only (including new partner)

    Correct Answer: D

    Solution :

    Capital/current Accounts of old partners only (including new partner)


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