CUET Accountancy - At the time of admission of a new partner, general reserve appearing in the old balance sheet is transferred to: | PYQs + Solutions

CUET Accountancy 2025 30 May Shift 2

Partnership

Easy

common

All partner's capital account

New partner's capital account

Old partner's capital account

Neither old nor new partner's account

✅ Correct Option: 3

Related questions:

27 May Shift 2

The profit or loss on revaluation of assets and liabilities are distributed in

31 May Shift 1

Match List-I with List-II

List-I	List-II
Method of Valuation of Goodwill	Formula
(A) Average profit method	(I) Goodwill = Super profit × No. of years purchased
(B) Super Profit Method	(II) Goodwill = capitalized value of average profit - actual firm's capital.
(C) Capitalization of super profit method	(III) Goodwill = Average Profits × No. of years purchased
(D) Capitalization of average profit method	(IV) Goodwill = (Super profit/ Normal Rate of Return) × 100

Choose the correct answer from the options given below:

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:

CUET Accountancy 2025 30 May Shift 2 PYQs