general reserve at the time of admission of partner is transferred to ........

General Accounting Principles Partnership

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general reserve at the time of admission of partner is transferred to

revaluation a/c

old partner's capital a/c

capital a/cs of all partners, including new partner

none of the above

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Explanation:

Sometimes a firm may have accumulated reserves not yet transferred to the partner's capitals accounts. These are in the form of general reserve, reserve fund etc. The new partner is not entitled to share in these reserves. Hence, at the time of admission, these reserves are transferred to the old partner's capital accounts in their profit sharing ratio.