Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Admission of a Partner

Question:
At the time of admission of a partner, goodwill is already appearing in the books of account. In which ratio, this goodwill will be written off ?
Options:
Gaining Ratio
Sacrificing Ratio
Old Ratio
New ratio
Correct Answer:
Old Ratio
Explanation:
At the time of admission of a partner, goodwill is already appearing in the books of account will be written off in old ratio.