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RP
Question Practice

Why might a new partner be required to contribute a premium or goodwill?

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

Why might a new partner be req...

Single Answer MCQ
Q-00002973

Why might a new partner be required to contribute a premium or goodwill?

1

To reduce the profits of the firm

2

To increase the liabilities of the firm

3

To compensate existing partners for their efforts

4

To decrease the value of the firm

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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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