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Reconstitution of Partnership (Admission of Partner) — Book Keeping & Accountancy STD 12 Commerce / Arts — Question

Maharashtra BoardEnglish MediumSTD 12 Commerce / ArtsBook Keeping & AccountancyReconstitution of Partnership (Admission of Partner)1 Mark
Question
In what proportion is general reserve distributed among the old partners?
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Answer

On admission of a new partner, the amount of general reserve is distributed among the old partners in their old profit sharing ratio.

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