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Ascertaining the amount due to retiring/deceased partner - class-XII
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In the event of death of partner, the amount of General Reserve is transferred to partner's capital Accounts in ______________ .
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A
The old profit-sharing ratio.
💡 Explanation:
The amount of general reserve is transferred to the capital accounts of all the partners in their old profit sharing ratio. This is done to give the deceased partner's nominee the required amount of share in profits of the firm. So, All Partners' Capital Accounts are credited with their respective shares.