Skip to content

There are two statements… (Accountancy 2026 67/5/1 Q2)

questionbuddy.in/q/cbse-12-accountancy-2026-67-5-1-q2-time-admission-new-partner-partnership

AccountancyCBSE Class 12 · Board exam 2026, set 67/5/1 · 1 mark · Assertion-reason

CBSE Class 12 Accountancy 2026: question 2

Set in the CBSE Class 12 board exam of 2026, paper 67/5/1, section A, question 2, for 1 mark. Try it first; the hints and our step-by-step solution are below.

Q2 · 1 mark · Assertion-reasonCompetency-basedReconstitution of a Partnership Firm – Admission of a Partner

There are two statements Assertion (A) and Reason (R) :
Assertion (A) : At the time of admission of a new partner in a partnership firm, the newly admitted partner brings an agreed amount of capital either in cash or in kind.
Reason (R) : On admission, the new partner gets the right to acquire share in the assets and profits of the partnership firm.
Choose the correct option from the following :

  1. (A)Both Assertion (A) and Reason (R) are correct and Reason (R) is the correct explanation of Assertion (A).
  2. (B)Both Assertion (A) and Reason (R) are correct, but Reason (R) is not the correct explanation of Assertion (A).
  3. (C)Assertion (A) is correct, but Reason (R) is incorrect.
  4. (D)Assertion (A) is incorrect, but Reason (R) is correct.

Source: official question paper from cbse.gov.in (PDF). See it in the full 2026 board paper, set 67/5/1.

Hints

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

Hint 1

What does a new partner get on admission?

Hint 2

Is that the reason he brings capital?

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. A new partner contributes capital (cash or kind) because admission gives him a right to a share in the firm's assets and future profits.

  2. Both statements are true and the Reason explains why capital is brought in. Option (A).

    1 mark

Answer: (A) Both A and R are correct and R is the correct explanation of A

Where the marks are

  • Recognises the right to share assets and profits as the reason for bringing capital (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 67/5/1: 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.