Assertion (A): At the time of admission of a new partner, advertisement suspense account is transferred to old partner’s capital account in their old profit-sharing ratio Reason(R): Advertisement suspense account is a part of accumulated losses therefore like any other losses it should be transferred to old partners’ capital account. a) Both Assertion (A) and Reason (R) are true. b) Both Assertion (A) and Reason (R) are false. c) Assertion (A) is true and Reason (R) is false. d) Assertion (A) is false and Reason (R) is true.

Assertion (A): At the time of admission of a new partner, advertisemen

1.	Assertion (A): At the time of admission of a new partner, advertisement suspense account is transferred to old partner’s capital account in their old profit-sharing ratio Reason(R): Advertisement suspense account is a part of accumulated losses therefore like any other losses it should be transferred to old partners’ capital account. a) Both Assertion (A) and Reason (R) are true. b) Both Assertion (A) and Reason (R) are false. c) Assertion (A) is true and Reason (R) is false. d) Assertion (A) is false and Reason (R) is true.
Answer» Correct option is b) Both Assertion (A) and Reason (R) are false.

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