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Chandan, Ravi and Mahesh… (Class 12 Accountancy 2026, Q7a)

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AccountancyCBSE Class 12 · Board exam 2026, set 67/1/1 · 1 mark · MCQ

CBSE Class 12 Accountancy 2026: question 7(a)

Set in the CBSE Class 12 board exam of 2026, paper 67/1/1, section A, question 7(a), for 1 mark. Try it first; the hints and our step-by-step solution are below.

Q7(a) · 1 mark · MCQReconstitution of a Partnership Firm – Admission of a Partner

Chandan, Ravi and Mahesh were partners in a firm sharing profits and losses in the ratio of 5 : 4 : 1. From 1st April, 2025 they decided to share the future profits in the ratio of 3 : 2 : 1. On that date there existed a general reserve of ₹ 7,00,000 in the books of the firm which they decided to distribute among themselves.

In which ratio will the general reserve be distributed among the partners ?

  1. (A)New profit sharing ratio
  2. (B)Old profit sharing ratio
  3. (C)Sacrificing / Gaining ratio
  4. (D)Equally

Source: official question paper from cbse.gov.in (PDF). See it in the full 2026 board paper, set 67/1/1.

Hints

Open one hint at a time and try again before the next.

Hint 1

When was the reserve earned?

Hint 2

Profits of the past belong to partners in the past ratio.

Step-by-step solution

Each step shows the marks it earns, as an examiner would award them. Checked by an independent re-solve from the question paper.

  1. The general reserve was built from profits earned while the old ratio applied.

  2. So it is distributed among the partners in their old profit sharing ratio 5 : 4 : 1. Option (B).

    1 mark

Answer: (B) Old profit sharing ratio

Where the marks are

  • Old ratio (1 mark)

Revise the chapter

Practise this chapterBoard-style questions from Reconstitution of a Partnership Firm – Admission of a Partner, one at a time, marked against the answer key and marking points.Back to the full paper2026 board paper, set 67/1/1: every question, by section.

The question is transcribed from the official paper; figures are described in words. The solution, hints and chapter tag are ours. Spotted an error? Write tosupport@questionbuddy.in.