Multiple Choice Questions on What treatment is made of accumulated profits and losses on the retirement of a partner ........ for Commerce 12th Preparation

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Multiple Choice Questions

What treatment is made of accumulated profits and losses on the retirement of a partner ........

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    What treatment is made of accumulated profits and losses on the retirement of a partner?

    Credited to all partner’s capital accounts in old ratio.

    Correct Answer

    Debited to all partner’s capital accounts in old ratio.

    Incorrect Answer

    Credited to remaining partner’s capital accounts in new ratio.

    Incorrect Answer

    Credited to remaining partner’s capital accounts in gaining ratio.

    Incorrect Answer
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    Explanation:

    Credited to all partner’s capital accounts in old ratio.

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