At the time of admission of a new partne

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Target Exam

CUET

Subject

-- Accountancy Part A

Chapter

Admission of a Partner

Question:

At the time of admission of a new partner, general reserve appears in the old balance sheet is transferred to:

Options:

All partner's capital account

New partner's capital account

Old partner's capital account

Neither old nor new partner's account

Correct Answer:

Old partner's capital account

Explanation:

The correct answer is Option (3) → Old partner's capital account