A, B and C are partners in a Firm Options: A . &nbspOld Firm is dissolved B . &nbspOld Firm and partnership is dissolved C . &nbspOld partnership is reconstitution. D . &nbspNone of the above

A, B and C are partners in a Firm

Question

A, B and C are partners in a Firm

Options:

A . Old Firm is dissolved

B . Old Firm and partnership is dissolved

C . Old partnership is reconstitution.

D . None of the above

Answer: Option C

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Next Question

Question 1. At the time of admission of a partner , general reserve appearing in the old Balance sheet is transferred to....

Question 2. When the balance sheet is prepared after the new partnership agreement, the assets and liabilities are recorded at....

Question 3. On admission of a new partner balance of General Reserve Account should be transferred to the capital account of....

Question 4. At the time of admission of a new partner, ________ of assets and liabilities should be taken up....

Question 5. _________ ratio is computed at the time of admission of a new partner....

Question 6. The old partners share all the accumulated profits and reserves in their....

Question 7. On admission of a new partner, increase in value of assets is debited to....

Question 8. The difference between old profit sharing ratio and new profit sharing ratio at time of admission is ________ ratio....

Question 9. In admission, profit from revaluation of assets and liabilities will be transferred to the capital accounts of the old ....to the capital accounts of the old partners in the

Question 10. At the time of admission, when goodwill is raised, the old partners capital account will be credited in the ________ ra....partners capital account will be credited in the ________ ratio

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