CUET Accountancy - Vijay and Sanjay are partners in a firm sharing profits and losses in the ratio of 3:2. They admitted Ajay into partnership with 1/4th share in profits. Ajay brings in Rs. 30,000 for capital and the requisite amount of premium in cash for goodwill. The goodwill of the firm is valued at Rs. 20,000. The new profit sharing ratio is 2:1:1. The sacrificing ratio of Vijay and Sanjay is: | PYQs + Solutions

CUET Accountancy 2025 31 May Shift 1

Partnership

Medium

common

3:5

2:3

3:2

2:5

✅ Correct Option: 2

Related questions:

27 May Shift 2

Which of the following statements are correct in respect of goodwill?

(A) the present value of a firm's anticipated excess earnings

(B) the capitalised value attached to the differential profit capacity of a business'.

(D) Any firm that earns normal profits or is incurring losses also has goodwill.

Choose the correct answer from the options given below:

13 May Shift 2

Which of the following factors leads to a higher goodwill for firms?

(A) Firms having long term contracts for supply of materials

(B) Firms with efficient management

(D) Firms which do not have competitive advantages

Choose the correct answer from the options given below:

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.

CUET Accountancy 2025 31 May Shift 1 PYQs

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