A-LevelAccountingPartnership AccountsOct/Nov 2016Paper 1 Q121 Mark
A partnership admits a new partner. Which statement is correct?
AProfits will always be shared equally following the new partner's admission.
BThe new partner will always benefit if assets are later revalued upwards.
CThe new partner must always contribute capital to the partnership.
DThe new partner will always pay for a share of partnership goodwill.
✓ Correct Answer
The correct answer is B. This question tests the candidate's understanding of partnership accounts within the Accountingsyllabus. The examiner's mark scheme requires...
📋 Examiner Report & Trap Analysis
Common mistake: 62% of candidates selected the distractor because they confused... The examiner specifically designed this question to test whether students can differentiate between... To secure full marks, candidates must demonstrate...
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