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Question Practice

When Chaudhary is admitted into a firm without capital for goodwill, what is the likely effect on existing partners?

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 Chaudhary is admitted int...

Single Answer MCQ
Q-00082145

When Chaudhary is admitted into a firm without capital for goodwill, what is the likely effect on existing partners?

1

They receive no share of profits

2

They must reduce their profit share

3

They gain additional income

4

They withdraw goodwill from the firm

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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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