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Question Practice

What is the purpose of transferring general reserves on a partner's retirement?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 12
Accountancy
Accountancy Part - I
Reconstitution of a Partnershi...
Question Bank

What is the purpose of transfe...

Single Answer MCQ
Q-00082279

What is the purpose of transferring general reserves on a partner's retirement?

1

To close all partner accounts

2

To balance the ledger

3

To ensure fair distribution of profits

4

To update the profit-sharing ratio

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Q3.

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Q4.

Discuss the various methods of computing the share in profits in the event of death of a partner.

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