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RP
Question Practice

When a new partner is admitted, which account is credited with the goodwill brought in by the 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

When a new partner is admitted...

Single Answer MCQ
Q-00082095

When a new partner is admitted, which account is credited with the goodwill brought in by the new partner?

1

New partner's capital account

2

Old partners' capital account

3

Goodwill account

4

Revaluation account

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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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