On retirement of a partner, general reserve is transferred to the _______.
A. Capital account of all the partners
B. Revaluation A/c
C. Capital account of the continuing partners
D. Memorandum of revaluation account
Answer:A
On retirement of a partner, general reserve is transferred to the _______.
A. Capital account of all the partners B. Revaluation A/c C. Capital account of the continuing partners D. Memorandum of revaluation account