Admission sequence: first finalise terms (A), then compute new profit sharing ratio (D), from which sacrificing ratio (B) is derived; next the goodwill is valued and adjusted (E), and finally the partners' capital accounts are finalised (C).
Arrange the following statements in proper sequence in context of admission of partner.
A. Finalising terms for admission of new partner
B. Calculation of sacrificing/ gaining ratio
C. Finalising balance in partner's capital A/c
D. Calculation of new profit sharing ratio
E. Valuation and adjustment of goodwill
Choose the correct answer from the options given below:
Held on 20 Jun 2023 · Verified 13 Jul 2026.
A, E, C, D, B
A, D, B, E, C
A, C, E, B, D
A, C, B, D, E
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An unrecorded asset is taken over by a creditor in full settlement in such a case
The liability of partners is
As per AS-26 Intangible assets like goodwill should be written off.
Identify the correct statement from the given below :-
By virtue of which section of the Indian Partnership Act 1932, partnership is defined as 'the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all'.
Work through every CUET UG Partnership PYQ, year by year.