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CUET Accountancy 2025 PYQs27 May Shift 2. Free, no login required.

Partnership

past year questions, CUET Accountancy 2025 27 May Shift 2

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past year questions, Partnership, CUET Accountancy 2025 27 May Shift 2

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At the time of admission of a new partner, for getting right to share the assets of the partnership firm, the new partner atleast will bring :-

Solution

✅ Correct Option: 4

When a new partner joins a partnership firm, the minimum requirement to gain the right to share in the assets of the firm is the contribution of capital.

Capital represents the new partner's stake or ownership interest in the business. It is this capital contribution that entitles the partner to:

  • Share in the firm's assets
  • Participate in profits and losses
  • Have a say in the management (depending on the partnership agreement)

Premium for Goodwill is an additional amount that may be brought in by the new partner to compensate the existing partners for sharing future super profits. However, it is not mandatory in all cases. Premium is only required when:

  • The firm has established goodwill
  • Existing partners demand compensation for diluting their profit share

Loan is entirely different from capital. A loan is a liability for the firm and does not grant any partnership rights. The lender remains a creditor, not a partner.

Since the question asks what the new partner will "at least" bring (meaning the minimum requirement), the answer is capital only. Premium for goodwill is optional and depends on the agreement between partners, but capital is essential for acquiring partnership rights.

Correct Option: 4 - Amount of his capital

Related questions:

2023: 20 June Shift 2

If at the time of admission, some positive balance of Profit and Loss A/C appears in the books, it will be transferred to:

2026: 23 May Shift 2

Ankita and Anjali share profits in the ratio of 3:2. Anshu is admitted into partnership for 1/4 share. The new profit sharing ratio is 9:6:5. What will be the sacrificing ratio of Ankita and Anjali?

2025: 2 June Shift 2

In the case of guarantee of profit ,the sequence of Steps to be followed are.

(A) divide the profit in the given ratio.

(B) prepare profit and loss appropriation account as usual.

(C) deduct the deficiency from guaranteeing partner and add the same to guaranteed partner.

(D) find the deficiency.

Choose the correct answer from the options given below:

2026: 13 May Shift 2

Kishor and Kunal were partners sharing profits and losses in the ratio of 5:3. On 1st April, 2026 they admitted Kushagra as a new partner and new ratio was decided as 3:2:1. Goodwill of the firm was valued as ₹ 18,00,000. Kushagra couldn't bring any amount for goodwill. The journal entry for the same would be:

2024

On the date of admission of a partner there was a balance of ₹ 45,000 in the account of machinery. It was found undervalued by 10%. The value of machinery will appear in the new Balance Sheet at:

2026: 11 May Shift 1

Usha and Disha are partners sharing profits in the ratio of 2:1. Usha's son Ashish was admitted for 1/4th share of which 1/8th was gifted by Usha to her son and the remaining was contributed by Disha. The goodwill of the firm is valued at Rs. 40,000. How much of the premium for goodwill will be credited to the old partners' capital account in case of admission of Ashish.

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