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When premium paid on Joint Life Policy is treated as an investment not as a business expense, it is transferred to (a) Trading account 

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in Reconstitution of a Partnership Firm – Retirement/Death of a Partner by (25.6k points)

When premium paid on Joint Life Policy is treated as an investment not as a business expense, it is transferred to 

(a) Trading account 

(b) Profit and Loss Account 

(c) Joint Life Policy Account 

(d) Joint Life Policy account and Balance Sheet

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1 Answer

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by (27.3k points)

(d) Joint Life Policy account and Balance Sheet

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