Question:
If at the time of admission, some positive balance of Profit and Loss A/C appears in the books, it will be transferred to:
If at the time of admission, some positive balance of Profit and Loss A/C appears in the books, it will be transferred to:
Updated On: Apr 19, 2024
- Profit and Loss account
- Revaluation Account
- Old Partner's Capital Account
- All Partners Capital Account
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The Correct Option is C
Solution and Explanation
The correct option is (C): Old Partner's Capital Account
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