On the retirement of a partner any reserve being should be transferred to the capital account of:
A) all partners in the old profit sharing ratio
B) remaining partners in the new profit sharing ratio
C) neither the retiring partner, nor the remaining partner
D) none of above
Correct Answer:
Verified
Q15: In the revaluation account an increase in
Q16: The partnership may come to an end
Q17: In case of retirement of a partner
Q18: Revaluation account is operated to find out
Q19: Partners equity is effected due to:
A)retirement of
Q20: The accounting procedure at the retirement of
Q21: If the remaining partner want to continue
Q22: An account operated to ascertain the loss
Q23: Amount due to outgoing partner is shown
Q24: The loss or gain an account of
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