Pick the odd one out from the options gi

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Target Exam

CUET

Subject

-- Accountancy Part A

Chapter

Reconstitution of Partnership Firm: Retirement and Death

Question:

Pick the odd one out from the options given below on the basis of profit or loss/liability for the partnership firm:

Options:

Debit balance of revaluation account

Debit balance of profit and loss account

Workmen compensation claim

General reserve

Correct Answer:

General reserve

Explanation:

The correct answer is option 4- General reserve.

General reserve is profit for the firm.

All other options are loss or liability for the firm.

So, the correct answer is general reserve as it is profit.