At the time of admission of a new partner, the balance of Workmen Compensation Reserve will be transferred to:
A. Old partners in the old profit sharing ratio
B. Sacrificing partners in the sacrificing ratio
C. Revaluation Account
D. All partners in the new profit sharing ratio
Answer:A
At the time of admission of a new partner, the balance of Workmen Compensation Reserve will be transferred to:
A. Old partners in the old profit sharing ratio B. Sacrificing partners in the sacrificing ratio C. Revaluation Account D. All partners in the new profit sharing ratio