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RP
Question Practice

What should be done if a new partner is admitted and there is also a debit balance in profit and loss?

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 should be done if a new p...

Single Answer MCQ
Q-00082178

What should be done if a new partner is admitted and there is also a debit balance in profit and loss?

1

Ignore it during admission

2

Allocate it to the new partner's capital account

3

Distribute it to all partners based on their new ratio

4

Transfer it to old partners' capital accounts

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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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