Ramesh and Suresh are partners in a firm sharing profits in the ratio of 4:3. They admitted Mohan as a new partner. The profit sharing ratio of Ramesh, Suresh and Mohan will be 2:3:1. Choose the correct option with regards to the gain or sacrifice of old partner-
Held on 14 May 2025 · Verified 13 Jul 2026.
Ramesh's sacrifice= 10/42
Ramesh's sacrifice= 7/42
Suresh's sacrifice = 3/42
Suresh's sacrifice = 10/42
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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 :-
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Work through every CUET UG Partnership PYQ, year by year.