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Accountancy · 2024 · 1 mark
Reconstitution of a Partnership Firm – Admission of a PartnerSacrificing Ratio1 markassertion reason
CBSE 2024 · Region 2 · Set 2 · Q1
Assertion (A): In a partnership firm, at the time of admission, the new partner brings in an agreed amount of capital either in cash or in kind.…
Assertion (A) : In a partnership firm, at the time of admission, the new partner brings in an agreed amount of capital either in cash or in kind. Reason (R) : In a partnership firm, at the time of admission, the new partner acquires the right to share the assets and the profits of the partnership firm. Choose the correct option from the following :
Official answer
(A)
Both Assertion (A) and Reason (R) are correct and Reason (R) is the correct explanation of Assertion (A)
Marking-scheme solution
(A)
Both Assertion (A) and Reason (R) are correct, and Reason (R) is correct
explanation of Assertion (A)
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CBSE Class 12 Accountancy past-paper question from the 2024 board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.