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RP
Question Practice

If a new partner is admitted and there are accumulated profits, what should NOT happen?

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 is admitted a...

Single Answer MCQ
Q-00082168

If a new partner is admitted and there are accumulated profits, what should NOT happen?

1

The new partner should not receive these profits.

2

These profits should be correctly allocated to capital accounts.

3

Profits should decrease for existing partners.

4

Existing partners should share profits proportionately.

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Q1.

What is reconstitution of a partnership firm?

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Q2.

What are the different modes of reconstitution of a partnership firm?

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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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