CUET Accountancy - For the right to get a share in future profits of a partnership firm, a newly admitted partner will have to bring :- | PYQs + Solutions

CUET Accountancy 2025 2 June Shift 2

Partnership

Easy

common

The amount of his liabilities.

The amount of his assets.

The amount of his obligation.

The amount of his premium for goodwill.

✅ Correct Option: 4

Related questions:

24 May Shift 1

When a new partner is admitted, the increase in the value of the assets is debited to which account?

31 May Shift 1

A and B are partners in a firm sharing profits in the ratio 2:1. C is admitted into the firm with 1/4th share in profits and he brings Rs. 30,000 as his capital. If the capitals of A and B are to be adjusted in their profit sharing ratio then the capital of A will be-

3 June Shift 1

The journal entries recorded for revaluation of assets and reassessment of liabilities are given here, find the correct :

(A) For increase in the value of an asset

Asset A/c Dr.

To Revaluation A/c

(B) For reduction in the value of an asset

Revaluation A/c Dr.

Asset A/c

Liability A/c Dr.

To Revaluation A/c

(D) For recording in the amount of a unrecorded liability

Revaluation A/c Dr.

To Liability A/c

Choose the correct answer from the options given below:

CUET Accountancy 2025 2 June Shift 2 PYQs

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