The balance in the investment fluctuation fund after meeting the fall in book value of investment, at the time of admission of partner will be transferred to:
A. Revaluation account
B. Capital accounts of old partners
C. General reserve
D. Capital account of all partners
Answer:B
The balance in the investment fluctuation fund after meeting the fall in book value of investment, at the time of admission of partner will be transferred to:
A. Revaluation account B. Capital accounts of old partners C. General reserve D. Capital account of all partners