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RP
Question Practice

If a new partner brings in a premium for goodwill, how is it typically recorded?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 12
Accountancy
Accountancy Part - I
Reconstitution of a Partnershi...
Question Bank

If a new partner brings in a p...

Single Answer MCQ
Q-00082124

If a new partner brings in a premium for goodwill, how is it typically recorded?

1

As a reduction in capital accounts of existing partners

2

As an increase in the new partner's capital account

3

As a revenue in the profit and loss account

4

As an expense in the financial statements

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Q1.

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Q3.

When can a new partner be admitted into a partnership firm?

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Q4.

What rights does a newly admitted partner acquire in a partnership firm?

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