Question
Accountancy Question on Shares
A newly admitted partner has the right to -
A
Share the profit of firm after his admission
B
Share the assets of the firm before his admission
C
Share the general reserve already appearing in the Balance Sheet before his admission
D
Demand extra-profit than his agreed share if business makes huge profits
Answer
Share the profit of firm after his admission
Explanation
Solution
The correct option is (A): Share the profit of firm after his admission