Admission of New Partner – Q & A

True Tamplin

Written by True Tamplin, BSc, CEPF®
Updated on August 3, 2021

1. Why and how new partner is admitted in partnership business?

2. What kind of accounting treatment is required at the time of admission of new partner?

3. What do you mean by old ration?

4. What do you mean by new ratio?

5. What do you mean by Sacrificing ratio?

6. Define revaluation.

7. Who will enjoy the profit of revaluation of assets and liabilities?

8. State the usual methods of computing the value of goodwill.

9. What do you mean by amalgamation?

10. What general entry will be passed for transfer of general reserve?

True Tamplin, BSc, CEPF®

About the Author
True Tamplin, BSc, CEPF®

True Tamplin is a published author, public speaker, CEO of UpDigital, and founder of Finance Strategists.

True contributes to his own finance dictionary, Finance Strategists, and has spoken to various financial communities such as the CFA Institute, as well as university students like his Alma mater, Biola University, where he received a bachelor of science in business and data analytics.

To learn more about True, visit his personal website, view his author profile on Amazon, his interview on CBS, or check out his speaker profile on the CFA Institute website.

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