CUET Accountancy - The journal entry for treatment of goodwill, when a new partner brings his share of goodwill in cash and one of the old partners gains, involves the following: | PYQs + Solutions

CUET Accountancy

Partnership

Easy

(A), (B) and (D) only

(A), (B) and (C) only

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

(B), (C) and (D) only

✅ Correct Option: 2

Related questions:

29 May Shift 2

The new partner acquired the rights on admission into the firm. He acquires :

(A) Rights in past profits of firm before admission.

(B) Right to share in the future profits of the firm.

(D) The right to carry on competing business.

Choose the correct answer from the options given below:

2 June Shift 2

Which is the correct statement, in respect of the Revaluation Account :-

22 May Shift 2

The past average profits of a business works out at Rs. 20,000 and it is expected that such profits are likely to continue for another three years, the value of goodwill based on average profit method will be……. .

CUET Accountancy PYQs

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