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Why is the General Reserve distiributed among the old partners before new partner is admitted?

Answer» <html><body><p></p>Solution :General Reserve <a href="https://interviewquestions.tuteehub.com/tag/represents-1185452" style="font-weight:bold;" target="_blank" title="Click to know more about REPRESENTS">REPRESENTS</a> <a href="https://interviewquestions.tuteehub.com/tag/accumulated-366703" style="font-weight:bold;" target="_blank" title="Click to know more about ACCUMULATED">ACCUMULATED</a> profits relating to the periof prior to the <a href="https://interviewquestions.tuteehub.com/tag/admission-850349" style="font-weight:bold;" target="_blank" title="Click to know more about ADMISSION">ADMISSION</a> of a new partner. It belongs to old partners and, <a href="https://interviewquestions.tuteehub.com/tag/therefore-706901" style="font-weight:bold;" target="_blank" title="Click to know more about THEREFORE">THEREFORE</a>, is <a href="https://interviewquestions.tuteehub.com/tag/distributed-956878" style="font-weight:bold;" target="_blank" title="Click to know more about DISTRIBUTED">DISTRIBUTED</a> among old partners.</body></html>


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