Partnership

Admission

Easy

common

If nothing is specified as to how does the new partner acquire his share from the old partners; it may be assumed that he gets it from them:

In their profit sharing ratio

In their gaining ratio

In their capital contribution ratio

In equal ratio

✅ Correct Option: 1

When the question is silent about how the incoming partner's share is carved out, the default assumption is that the old partners surrender it in their existing profit sharing ratio.

The consequence is that the sacrificing ratio equals the old ratio, and the old partners continue to share the remaining profit among themselves in the same proportion as before.

2026: 21 May Shift 1

Arrange the sequence of following important adjustments which require attention at the time of admission of a new partner.

(A) Valuation and adjustment of goodwill

(B) Balance sheet of Reconstituted firm

(D) New profit sharing ratio and Sacrificing ratio

Choose the correct answer from the options given below:

2025: 27 May Shift 1

Arrange in correct sequence at a time of admission of partner-

(A) Adjustments of capital accounts.

(B) Valuation of goodwill

Choose the correct answer from the options given below:

(A), (B), (C)
(A), (C), (B)
(B), (A), (C)
(C), (B), (A)

2025: 4 June Shift 2

Which of the following factors affects the value of goodwill?

(A). Location of Business

(B). Partner's Performance

(C). Nature of Business

(D). Market Situation

Choose the correct answer from the options given below:

2026: 23 May Shift 2

What will be the value of goodwill by Capitalisation of Average Profit Method?

Average profit: Rs. 2,00,000

Normal rate of return: 10%

Value of net assets of business: Rs.12,00,000

2026: 21 May Shift 1

Match List-I with List-II

List-I	List-II
(A) In this method, the person who purchases a running business must pay in the form of goodwill, a sum which is equal to the profits he is likely to receive for the first few years.	(I) Capitalised value of business
(B) It is desirable to value goodwill on the basis of the excess profits and not the actual profits.	(II) Goodwill
(C) Average Profits × 100/Normal Rate of Return	(III) Super Profit Method
(D) Capitalised value – Net Assets	(IV) Average profit Method

Choose the correct answer from the options given below:

2025: 13 May Shift 2

In this case, Normal profit is -

If nothing is specified as to how does the new partner acquire his share from the old partners; it may be assumed that he gets it from them:

Solution

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