Multiple Choice Questions on A new partner is admitted to the firm and becomes entitled to ........ for UPSC EPFO Exam Preparation

Back to Main Page

Multiple Choice Questions

A new partner is admitted to the firm and becomes entitled to ........

General Accounting Principles Partnership
    Download Solution PDF

    A new partner is admitted to the firm and becomes entitled to-

    Accumulated profits of the partnership firm
     

    Incorrect Answer

    Accumulated reserves of the partnership
     

    Incorrect Answer

    Future profits
     

    Correct Answer

    Present profits

    Incorrect Answer
    छोटे Courses बड़े Results
    Master Partnership
    Prepare through Micro-courses
    Try Now
    Explanation:

    The new partner that is admitted to the partnership firm is eligible for the future profits of the entity only. The past profits , reserves and accumulated profits are for the old partners.

    By: NIHARIKA WALIA
    ProfileResources

    Let's Discuss

    Master
    Partnership
    With abhipedia
    Micro Courses
    Try Now
    What our students have to say
    Review on us
    Download Abhipedia Android App

    Access to prime resources

    Downlod from playstore
    download android app download android app for free