Maharashtra State BoardHSC Commerce 12th Board Exam
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State 'True' Or 'False' the New Partner Must Pay His Share of Goodwill in Cash Only. - Book Keeping and Accountancy

MCQ

State 'True' or 'False'
The new partner must pay his share of goodwill in cash only.

Options

  • True

  • False

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Solution

False

Explanation: The new partner can pay his share of goodwill either in cash or kind. Besides this, the amount can also be paid privately (i.e. outside the business).

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APPEARS IN

Micheal Vaz Accounts - Book Keeping and Accountancy HSC 12th Standard Maharashtra State Board
Chapter 3 Reconstitution of Partnership (Admission of Partner)
Exercise | Q 5 | Page 108
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