Question

Write any five reason of admission of new partner in the firm

Answer 1

• Admissions of your partner in the firm should always be nudged.

• They should always be behind your back...

Thank You

Answer 2

Answer:

Required adjustments at the time of admission of a Partner:

1. Calculation of New Profit Sharing Ratio.

2. Revaluation of Assets and Liabilities of the firm.

3.Treatment of Goodwill.

4.Adjustment of Accumulated

Reserves and Profits /Losses.

5.Adjustment of Capital (if agreed).