For the right to get a share in future profits of a partnership firm,…

For the right to get a share in future profits of a partnership firm, a newly admitted partner will have to bring :-

Answer & explanation

Correct answer: option 4

The correct answer is Option (4) → The amount of his premium for goodwill

A new partner gets a share in the future profits of the firm. An established firm earns more than a normal return because of its goodwill, which the old partners built. So for the right to share those profits, the new partner brings, besides his capital, an amount known as premium for goodwill, which compensates the old partners for the share they give up.

Option (1) The amount of his liabilities — Incorrect. A partner’s private liabilities have nothing to do with his right to the firm’s profits.

Option (2) The amount of his assets — Incorrect. He brings an agreed capital, not all his private assets.

Option (3) The amount of his obligation — Incorrect. There is no such payment on admission; the payments are capital and premium for goodwill.

NCERT (2026-27 edition):
Admission of a New Partner – “… For the right to acquire share in the assets and profits of the partnership firm, the partner brings an agreed amount of capital either in cash or in kind. Moreover, in the case of an established firm which may be earning more profits than the normal rate of return on its capital the new partner is required to contribute some additional amount known as premium or goodwill. This is done primarily to compensate the sacrificing partners for loss of their share in super profits of the firm.”