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RP
Question Practice

In a partnership where A and B share profits in a 2:1 ratio, if they admit C for a 1/5 share of the profits, what adjustment must occur?

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

In a partnership where A and B...

Single Answer MCQ
Q-00082140

In a partnership where A and B share profits in a 2:1 ratio, if they admit C for a 1/5 share of the profits, what adjustment must occur?

1

A and B must equally share their profits with C

2

C must bring in a capital equal to his share

3

A and B will sacrifice part of their profit share

4

C requires no capital investment

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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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