CUET Accountancy 2023 29 May Shift 2 PYQs

In the absence of any information regarding the acquisition of share in profit of the retiring/deceased partner by the remaining partners, it is assumed that they will acquire his/her share in:

At the time of retirement of a partner, undistributed profits appearing in the balance sheet of the old firm is transferred to the capital account of:

If nothing is mentioned, the amount due to retiring partner is transferred to _______.