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RP
Question Practice

What is the main purpose of adjusting capitals upon the admission of a new partner?

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

What is the main purpose of ad...

Single Answer MCQ
Q-00082147

What is the main purpose of adjusting capitals upon the admission of a new partner?

1

To increase the total capital of the firm

2

To distribute profits equally among partners

3

To align partners' capitals with profit-sharing ratios

4

To eliminate old partner's capital contributions

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Q1.

What is reconstitution of a partnership firm?

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Q2.

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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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