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Assertion (A): When the profit sharing ratio changes, all the reserves are transferred to the Profit and Loss Appropriation Account.
Reason (R): The reserves are transferred in the old profit sharing ratio.

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Assertion (A) is true, but Reason (R) is false

Assertion (A) is false, but Reason (R) is true

Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion(A)

Both Assertion (A) and Reason (R)are true, but Reason (R) is not the correct explanation of Assertion (A).

answer is D.

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Detailed Solution

When any change in Profit sharing Ratio all Reserves can transfer to partners capital account in their Old Ratio

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