On retirement of a partner, general reserve is transferred to the _______.
A. Capital account of all the partners
B. Capital account of retiring partners only
C. Capital account of the continuing partners
D. None of the above
Answer:A
On retirement of a partner, general reserve is transferred to the _______.
A. Capital account of all the partners B. Capital account of retiring partners only C. Capital account of the continuing partners D. None of the above