A new partner can be admitted : Option 1: If all the existing partners agree Option 2: If Majority of the existing partner agree Option 3: If any one of the existing partner agree Option 4: If 4/5th of the existing partner agree

The answer is 'If all the existing partners agree'. View full solution:

CUET Accountancy - A new partner can be admitted : | PYQs + Solutions

CUET Accountancy 2023 28 May Shift 1

Partnership

Easy

If all the existing partners agree

If Majority of the existing partner agree

If any one of the existing partner agree

If 4/5th of the existing partner agree

✅ Correct Option: 1

Related questions:

27 May Shift 1

Arrange the steps involved under the super profit method of calculating goodwill-

(A) Calculate the normal profit on the firm's capital on the basis of the normal rate of return

(B) Calculate the average profit

(D) Calculate the super profits by deducting normal profit from the average profits

Choose the correct answer from the options given below:

(A), (B), (C), (D)
(B), (C), (A), (D)
(B), (A), (D), (C)
(C), (B), (D), (A)

13 May Shift 1

L and M are partners sharing profits in the ratio 3:2. N is admitted as a partner for 1/5th of the share which is acquired from L. Goodwill of the firm is valued at Rs. 40,000 on N's admission. N will have to pay for Goodwill:

13 May Shift 1

Excess value of net assets over purchase consideration at the time of purchase of business is credited to

CUET Accountancy 2023 28 May Shift 1 PYQs

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