CUET Accountancy - X, Y and Z are partners in a firm. If M is admitted as a new partner, what would be its implication? | PYQs + Solutions

CUET Accountancy 2025 13 May Shift 1

Partnership

Easy

Old firm would be dissolved

Old firm and old partnership would be dissolved

Old partnership would be reconstituted

Nothing is affected.

✅ Correct Option: 3

Related questions:

2 June Shift 2

Abhiram and Ragini are partners sharing profits in the ratio of 3:2. They admit Arun a new partner for 1/5th share in the future profits of the firm which he gets equally from Abhiram and Ragini. Calculate the new profit sharing ratio of Abhiram, Ragini and Arun.

15 May Shift 1

A business has earned average profits of Rs. 1,00,000 during the last few years and the normal rate of return in a similar business is 25%. Ascertain the value of goodwill by capitalisation of average profits method, given that the value of net assets of the business is Rs. 3,20,000.

30 May Shift 2

The books of a business showed that the firm's capital employed on December 31, 2015, is Rs. 5,00,000 and the profits for the last five years were: 2011–Rs. 40,000; 2012-Rs. 50,000; 2013-Rs. 55,000; 2014- Rs.70,000 and 2015-Rs. 85,000. Find out the normal profits of the business, given that the normal rate of return is 10%.

CUET Accountancy 2025 13 May Shift 1 PYQs

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