CA FOUNDATION · PAPER 1 · ACCOUNTANCY
Admission of a Partner
New PSR · Sacrificing Ratio · Goodwill Treatment · Revaluation · Reserve Distribution · Capital Adjustment · Hidden Goodwill
3 Levels25 Qs per level 15 shown per attempt80% to unlock next
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Level 1 — Basic
Meaning of admission, new PSR, sacrificing ratio concept, goodwill basics, why revaluation is needed.
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Level 2 — Intermediate
Sacrificing ratio calculations, goodwill journal entries (all methods), Revaluation Account, reserve distribution.
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Level 3 — Advanced (CA Level)
Hidden goodwill, capital adjustment, complex multi-step admission problems, ICAI exam standard.
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Level 1Score: 0
Q 1 of 15⏱ 60s
QUESTION 1
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15
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