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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, the revaluation account shows a profit, it should be credited to:

    A) old partners capital accounts in the old profit sharing ratio

    B) all partners capital accounts in the new profit sharing ratio

    C) old partners capital accounts in the new profit sharing ratio

    D) old partners capital accounts in the sacrificing ratio

    Correct Answer: A

    Solution :

    [a] old partners capital accounts in the old profit sharing ratio


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