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Question Practice

In what form can accumulated profits be found in a partnership?

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 what form can accumulated p...

Single Answer MCQ
Q-00082153

In what form can accumulated profits be found in a partnership?

1

Only as cash reserves

2

As general reserves and retained earnings

3

Only as retained earnings

4

Only as cash reserves and profit-sharing ratios

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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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