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RP
Question Practice

If accumulated profits were not adjusted, what could be a consequence at the time of a new partner's admission?

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 accumulated profits were no...

Single Answer MCQ
Q-00082187

If accumulated profits were not adjusted, what could be a consequence at the time of a new partner's admission?

1

Increased goodwill for the new partner

2

Misrepresentation of existing partners' interest

3

Higher future profits

4

Early retirement of old partners

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What is 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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