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easyMCQCUET Accountancy 2025 2 June Shift 22026CUET Accountancy
1 mark

To secure the right to receive a share in the future profits of a partnership firm, a newly admitted partner must bring:

  1. A
    The amount of his liabilities.
  2. B
    The amount of his assets.
  3. C
    The amount of his obligation.
  4. D
    The amount of his premium for goodwill.

Solution & Step-by-step Explanation

A incoming partner compensates the existing partners for the loss of their profit share by bringing in a premium for goodwill. This premium is then distributed among the old partners in their sacrificing ratio.

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To secure the right to receive a share in the future profits of a partnership firm, a newly admitted partner must bring:
A
The amount of his liabilities.
B
The amount of his assets.
C
The amount of his obligation.
D
The amount of his premium for goodwill.

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