Ajay, Bijoy and Payal are partners in a firm sharing profits in the ratio of 3:2:1. Sunil is admitted into the firm for 1/4 share in profits, which he gets as 1/8 from Ajay and 1/8 from Bijoy. The total capital of the firm is agreed upon as Rs. 1,20,000 and Sunil is to bring in cash equivalent to 1/4 of this amount as his capital. The new profit sharing ratio of Ajay, Bijoy, Payal and Sunil will be:

Which statement among the following is NOT true about Goodwill?

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

(C) Firms which are highly profitable

(D) Firms which do not have competitive advantages

Choose the correct answer from the options given below:

In this case, Normal profit is -

On the admission of a new partner increase in the value of assets is debited to:

Goodwill can also be ascertained by capitalising the super profit directly under which method?

For the right to acquire share in the assets and profits of the partnership firm, the new partner brings: