CUET Accountancy 2025 22 May Shift 1 PYQs

The Central Government has prescribed the maximum number of partners in a firm to be _______

Partner's current accounts are transferred to the respective partners' ________ at the time of dissolution of a partnership.

K, N and P are partners sharing profits and losses in the ratio of $4:3:2$. N retires and the goodwill is valued at $\text{Rs. }72,000$. K and P decided to share future profits and losses in the ratio of $5:3$. Find which of the following statements is not correct?

Choose the correct statement if a partnership deed does not exist.

At the time of retirement of a partner, undistributed profits appearing in the balance sheet of the old firm is transferred to the capital account of: