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  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 profit and loss account balance appears in the books, it will be transferred to:

    A) Profit & Loss Adjustment Account

    B) All Partners' Capital Accounts

    C) Old Partners' Capita! Accounts

    D) Debited to Goodwill Account

    Correct Answer: C

    Solution :

    [c] Old oar-triers' Capital Accounts


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