On the admission of a new partner, which one of the following in the B – McqOptions

MCQOPTIONS

1.	On the admission of a new partner, which one of the following in the Balance sheet should be transferred to the Capital A/c’s of the old partners in old profit sharing ratio?
A.	Bank O.D.
B.	General Reserve
C.	Bills payable
D.	Outstanding expenses
Answer» C. Bills payable

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