CUET Accountancy - X and Y are partners sharing profits in the ratio 3:2. Z is entered into the business for 1/4th share of profits, with the guarantee of minimum profits of ₹ 30,000. Profit earned by the business for the year ended March 31st, 2024 is ₹ 1,00,000. Amount of deficiency, if any, will be borne by: | PYQs + Solutions

CUET Accountancy 2025 22 May Shift 2

Partnership

Medium

common

₹ 5,000 will be borne by X

₹ 5,000 will be borne by Y

₹ 5,000 will be borne by X and Y in 3:2 ratio

₹ 5,000 will be borne by X and Y in equal ratio

✅ Correct Option: 3

Related questions:

13 May Shift 2

A and B are partners sharing profits equally with capitals of Rs 45,000 each. They admitted C as a new partner for one-third share in the profit. C brings in Rs 60,000 as his capital. Find the value of Firm Goodwill.

16 May Shift 1

Match List-I with List-II

List-I	List-II
(A) Accumulated Profits/Losses	(I) New Ratio
(B) Share of goodwill at the time of admission of a partner	(II) Gaining Ratio
(C) Division of profits after admission of a partner	(III) Old Ratio
(D) Share of goodwill at the time of retirement/death of a partner	(IV) Sacrificing Ratio

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:

CUET Accountancy 2025 22 May Shift 2 PYQs

Keyboard Shortcuts