{"id":57379,"date":"2021-06-15T12:04:00","date_gmt":"2021-06-15T06:34:00","guid":{"rendered":"https:\/\/www.kopykitab.com\/blog\/?p=57379"},"modified":"2021-06-15T15:12:49","modified_gmt":"2021-06-15T09:42:49","slug":"ncert-solutions-for-class-12-accountancy-part-1-chapter-3-reconstitution-of-a-partnership-firm-admission-of-a-partner","status":"publish","type":"post","link":"https:\/\/www.kopykitab.com\/blog\/ncert-solutions-for-class-12-accountancy-part-1-chapter-3-reconstitution-of-a-partnership-firm-admission-of-a-partner\/","title":{"rendered":"NCERT Solutions for Class 12 Accountancy Part 1 Chapter 3 -Reconstitution of a Partnership Firm -Admission of a Partner"},"content":{"rendered":"\n<p><strong>NCERT Solutions for Class 12 Accountancy Part 1 Chapter 3:\u00a0<\/strong>Chapter three in <a href=\"https:\/\/www.kopykitab.com\/blog\/cbse-class-12-accountancy\/\"><strong>Accountancy for CBSE class 12<\/strong><\/a> is the Reconstitution of a Partnership Firm. It emphasizes the admission of a partner. The chapter comes under Part one of Accountancy for <a href=\"https:\/\/www.kopykitab.com\/blog\/cbse-class-12-board-exam\/\"><strong>CBSE class 12<\/strong><\/a>. It consists of various questions that are likely to appear in the exams and are helpful in that respect. Besides solutions that answer the questions, revision notes can also be beneficial for your studies. You should also take the help of revision notes and other resources that you can get to prepare for the exams.<\/p>\n<ul>\n<li><strong>All you need to know about\u00a0<a href=\"https:\/\/www.kopykitab.com\/blog\/cbse-class-12-accountancy-ncert-solutions\/\" target=\"_blank\" rel=\"noopener noreferrer\">NCERT Solutions for Class 12 Accountancy<\/a><\/strong><\/li>\n<\/ul>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_47_1 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"ez-toc-toggle-icon-1\"><label for=\"item-69d0cfd0ee0e7\" aria-label=\"Table of Content\"><span style=\"display: flex;align-items: center;width: 35px;height: 30px;justify-content: center;direction:ltr;\"><svg style=\"fill: #000000;color:#000000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #000000;color:#000000\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/label><input  type=\"checkbox\" id=\"item-69d0cfd0ee0e7\"><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-visibility-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.kopykitab.com\/blog\/ncert-solutions-for-class-12-accountancy-part-1-chapter-3-reconstitution-of-a-partnership-firm-admission-of-a-partner\/#ncert-solutions-for-class-12-accountancy-part-1-chapter-3-pdf-reconstitution-of-a-partnership-firm-admission-of-a-partner\" title=\"NCERT Solutions for Class 12 Accountancy Part 1 Chapter 3 PDF- Reconstitution of a Partnership Firm- Admission of a Partner\">NCERT Solutions for Class 12 Accountancy Part 1 Chapter 3 PDF- Reconstitution of a Partnership Firm- Admission of a Partner<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.kopykitab.com\/blog\/ncert-solutions-for-class-12-accountancy-part-1-chapter-3-reconstitution-of-a-partnership-firm-admission-of-a-partner\/#download-class-12-accountancy-ncert-solutions-for-chapter-3-pdf\" title=\"Download Class 12 Accountancy NCERT Solutions for Chapter 3 PDF\">Download Class 12 Accountancy NCERT Solutions for Chapter 3 PDF<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.kopykitab.com\/blog\/ncert-solutions-for-class-12-accountancy-part-1-chapter-3-reconstitution-of-a-partnership-firm-admission-of-a-partner\/#summary-for-class-12-accountancy-part-1-chapter-3-reconstitution-of-a-partnership-firm\" title=\"Summary for Class 12 Accountancy Part 1 Chapter 3 Reconstitution of a Partnership Firm\">Summary for Class 12 Accountancy Part 1 Chapter 3 Reconstitution of a Partnership Firm<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.kopykitab.com\/blog\/ncert-solutions-for-class-12-accountancy-part-1-chapter-3-reconstitution-of-a-partnership-firm-admission-of-a-partner\/#1-nature-of-the-business\" title=\"1. Nature of the Business\">1. Nature of the Business<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.kopykitab.com\/blog\/ncert-solutions-for-class-12-accountancy-part-1-chapter-3-reconstitution-of-a-partnership-firm-admission-of-a-partner\/#2-location-of-the-business\" title=\"2. Location of the Business\">2. Location of the Business<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.kopykitab.com\/blog\/ncert-solutions-for-class-12-accountancy-part-1-chapter-3-reconstitution-of-a-partnership-firm-admission-of-a-partner\/#3-the-efficiency-of-the-management\" title=\"3. The Efficiency of the Management\">3. The Efficiency of the Management<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.kopykitab.com\/blog\/ncert-solutions-for-class-12-accountancy-part-1-chapter-3-reconstitution-of-a-partnership-firm-admission-of-a-partner\/#4-the-market-conditions\" title=\"4. The Market Conditions\">4. The Market Conditions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.kopykitab.com\/blog\/ncert-solutions-for-class-12-accountancy-part-1-chapter-3-reconstitution-of-a-partnership-firm-admission-of-a-partner\/#5-benefits\" title=\"5. Benefits\">5. Benefits<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.kopykitab.com\/blog\/ncert-solutions-for-class-12-accountancy-part-1-chapter-3-reconstitution-of-a-partnership-firm-admission-of-a-partner\/#concepts-covered-in-this-chapter-%e2%80%93\" title=\"Concepts covered in this chapter \u2013\">Concepts covered in this chapter \u2013<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.kopykitab.com\/blog\/ncert-solutions-for-class-12-accountancy-part-1-chapter-3-reconstitution-of-a-partnership-firm-admission-of-a-partner\/#highly-important-links-for-cbse-class-12-accountancy\" title=\"Highly Important Links For CBSE Class 12 Accountancy\">Highly Important Links For CBSE Class 12 Accountancy<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.kopykitab.com\/blog\/ncert-solutions-for-class-12-accountancy-part-1-chapter-3-reconstitution-of-a-partnership-firm-admission-of-a-partner\/#benefits-of-ncert-solutions-for-class-12-accountancy-part-1-chapter-3-pdf\" title=\"Benefits of NCERT Solutions for Class 12 Accountancy Part 1 Chapter 3 PDF\">Benefits of NCERT Solutions for Class 12 Accountancy Part 1 Chapter 3 PDF<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/www.kopykitab.com\/blog\/ncert-solutions-for-class-12-accountancy-part-1-chapter-3-reconstitution-of-a-partnership-firm-admission-of-a-partner\/#1-it-allows-you-to-study-for-the-exams\" title=\"1. It allows you to Study for the Exams\">1. It allows you to Study for the Exams<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/www.kopykitab.com\/blog\/ncert-solutions-for-class-12-accountancy-part-1-chapter-3-reconstitution-of-a-partnership-firm-admission-of-a-partner\/#2-it-helps-you-to-learn-essential-concepts-in-accountancy\" title=\"2. It Helps you to Learn Essential Concepts in Accountancy\">2. It Helps you to Learn Essential Concepts in Accountancy<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/www.kopykitab.com\/blog\/ncert-solutions-for-class-12-accountancy-part-1-chapter-3-reconstitution-of-a-partnership-firm-admission-of-a-partner\/#3-it-enables-you-to-understand-the-working-of-a-partnership-firm\" title=\"3. It Enables you to Understand the Working of a Partnership Firm\">3. It Enables you to Understand the Working of a Partnership Firm<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/www.kopykitab.com\/blog\/ncert-solutions-for-class-12-accountancy-part-1-chapter-3-reconstitution-of-a-partnership-firm-admission-of-a-partner\/#faqs-on-ncert-solutions-for-class-12-accountancy-part-1-chapter-3\" title=\"FAQs on NCERT Solutions for Class 12 Accountancy Part 1 Chapter 3\">FAQs on NCERT Solutions for Class 12 Accountancy Part 1 Chapter 3<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/www.kopykitab.com\/blog\/ncert-solutions-for-class-12-accountancy-part-1-chapter-3-reconstitution-of-a-partnership-firm-admission-of-a-partner\/#what-are-the-benefits-of-the-cbse-ncert-solutions-for-class-12-accountancy-part-1-chapter-3\" title=\"What are the benefits of the CBSE NCERT Solutions for Class 12 Accountancy Part 1 Chapter 3?\">What are the benefits of the CBSE NCERT Solutions for Class 12 Accountancy Part 1 Chapter 3?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/www.kopykitab.com\/blog\/ncert-solutions-for-class-12-accountancy-part-1-chapter-3-reconstitution-of-a-partnership-firm-admission-of-a-partner\/#define-the-term-goodwill-as-mentioned-in-ncert-solutions-for-class-12-accountancy-part-1-chapter-3\" title=\"Define the term goodwill as mentioned in NCERT Solutions for Class 12 Accountancy Part 1 Chapter 3?\">Define the term goodwill as mentioned in NCERT Solutions for Class 12 Accountancy Part 1 Chapter 3?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/www.kopykitab.com\/blog\/ncert-solutions-for-class-12-accountancy-part-1-chapter-3-reconstitution-of-a-partnership-firm-admission-of-a-partner\/#what-is-the-sacrificing-ratio-calculation-formula\" title=\"What is the Sacrificing Ratio Calculation Formula?\">What is the Sacrificing Ratio Calculation Formula?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/www.kopykitab.com\/blog\/ncert-solutions-for-class-12-accountancy-part-1-chapter-3-reconstitution-of-a-partnership-firm-admission-of-a-partner\/#what-are-the-different-methods-for-treating-goodwill-when-adding-a-new-member\" title=\"What are the Different Methods for Treating Goodwill When Adding a New Member?\">What are the Different Methods for Treating Goodwill When Adding a New Member?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/www.kopykitab.com\/blog\/ncert-solutions-for-class-12-accountancy-part-1-chapter-3-reconstitution-of-a-partnership-firm-admission-of-a-partner\/#is-it-possible-to-get-the-ncert-solutions-for-class-12-accountancy-part-1-chapter-3-for-free\" title=\"Is it possible to get the NCERT Solutions for Class 12 Accountancy Part 1 Chapter 3 for free?\">Is it possible to get the NCERT Solutions for Class 12 Accountancy Part 1 Chapter 3 for free?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"ncert-solutions-for-class-12-accountancy-part-1-chapter-3-pdf-reconstitution-of-a-partnership-firm-admission-of-a-partner\"><\/span><strong>NCERT Solutions for Class 12 Accountancy Part 1 Chapter 3 PDF- Reconstitution of a Partnership Firm- Admission of a Partner<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><a href=\"https:\/\/www.kopykitab.com\/blog\/wp-content\/uploads\/2020\/10\/NCERT-Solutions-for-Class-12-Accountancy-Part-1-Chapter-3.pdf\">Download Class 12 Accountancy NCERT Solutions for Part 1 Chapter 3<\/a><\/p>\n<div id=\"example1\" style=\"text-align: justify;\">\u00a0<\/div>\n<p style=\"text-align: justify;\"><style>\n.pdfobject-container { height: 800px;}<br \/>\n.pdfobject { border: 1px solid #666; }<br \/>\n<\/style><\/p>\n<p style=\"text-align: justify;\"><script src=\"https:\/\/www.kopykitab.com\/_utility\/js\/pdfobject.min.js\"><\/script><br \/><script>PDFObject.embed(\"https:\/\/www.kopykitab.com\/blog\/wp-content\/uploads\/2020\/10\/NCERT-Solutions-for-Class-12-Accountancy-Part-1-Chapter-3.pdf\", \"#example1\");<\/script><\/p>\n<h3><span class=\"ez-toc-section\" id=\"download-class-12-accountancy-ncert-solutions-for-chapter-3-pdf\"><\/span><strong>Download Class 12 Accountancy NCERT Solutions for Chapter 3 PDF<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: center;\"><a style=\"display: inline-block; width: auto; padding: 18px; cursor: pointer; font-weight: bold; border-radius: 40px; text-decoration-line: underline; color: #ffffff; background: #ff4500; box-shadow: rgba(0, 0, 0, 0.25) 0px 2px 6px 0px;\" href=\"https:\/\/www.kopykitab.com\/blog\/wp-content\/uploads\/2020\/10\/NCERT-Solutions-for-Class-12-Accountancy-Part-1-Chapter-3.pdf\" target=\"_blank\" rel=\"noopener\">Download Here<\/a><\/p>\n<p>The chapter talks about concepts such as the admission of a new partner, changes in the profit-sharing ratio when a firm admits a new partner, and what happens when one of the partners dies. Each topic in the chapter has a logical flow. So, you can follow all the topics without any hassles.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"summary-for-class-12-accountancy-part-1-chapter-3-reconstitution-of-a-partnership-firm\"><\/span><strong>Summary for Class 12 Accountancy Part 1 Chapter 3 Reconstitution of a Partnership Firm<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The chapter begins with the different modes of reconstitution of a partnership firm. The different ways of restructuring a partnership firm include the admission of a new partner, the current partner&#8217;s return, and a partner&#8217;s death. According to the prevailing laws, a partnership firm can accept a new partner only if all the existing partners agree. When such a thing does happen, sometimes, the partners&#8217; roles may change, depending on the current profit-sharing ratio. In such cases, restructuring occurs.<\/p>\n<p>The chapter also tells us about the factors that affect the goodwill of the business. The main factors that affect goodwill include<\/p>\n<h3><span class=\"ez-toc-section\" id=\"1-nature-of-the-business\"><\/span><strong>1. <\/strong><strong>Nature of the Business<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>If a company has products or services of high value, then its goodwill also increases, along with its profits.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"2-location-of-the-business\"><\/span><strong>2. <\/strong><strong>Location of the Business<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Location is also one of the deciding factors that affect the goodwill of the business. If the company is in such an area where it would get more high-quality customer traffic, then the goodwill also increases.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"3-the-efficiency-of-the-management\"><\/span><strong>3. <\/strong><strong>The Efficiency of the Management<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The efficiency with which the partners oversee the partnership firm&#8217;s daily activities is also an essential deciding factor in the goodwill that it gets. Higher productivity and efficiency lead to higher profitability, which, in turn, leads to more goodwill.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"4-the-market-conditions\"><\/span><strong>4. <\/strong><strong>The Market Conditions<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>If the market conditions are favorable, then the business would be reaping higher profits and more goodwill. So, if the business idea is unique, it would not have to face stiff competition. So, the firm can earn a higher profit and goodwill.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"5-benefits\"><\/span><strong>5. <\/strong><strong>Benefits<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Partnership firms that get unique benefits, such as licenses, low tariffs, and assured power supplies and other materials required to run the business, reap profits, sometimes, more often than others. They also gain more goodwill.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"concepts-covered-in-this-chapter-%e2%80%93\"><\/span><strong>Concepts covered in this chapter \u2013<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>Modes of Reconstitution of a partnership<\/li>\n<li>Admission of a new partner<\/li>\n<li>Sacrificing Ratio<\/li>\n<li>Goodwill<\/li>\n<li>Adjustment of capitals<\/li>\n<li>Change in profit sharing ratio among the existing partners<\/li>\n<\/ul>\n<p><strong>Marks Weightage of CBSE Chapter 3 of Accounts Part 1 Class 12<\/strong><\/p>\n<p>Part A of Accountancy will acquire a total of 52 marks in the final test, according to CBSE standards.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"highly-important-links-for-cbse-class-12-accountancy\"><\/span><strong>Highly Important Links For CBSE Class 12 Accountancy<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"content-box-orange\">\n<p><em><strong>NCERT books and solutions are available for download as PDF. So, you can download them here, and start preparing for the exams:<\/strong><\/em><\/p>\n<ul>\n<li><a class=\"in-cell-link\" href=\"https:\/\/www.kopykitab.com\/blog\/cbse-class-12-accountancy-syllabus\/\" target=\"_blank\" rel=\"noopener noreferrer\">12th Accountancy Syllabus<\/a><\/li>\n<li><a class=\"in-cell-link\" href=\"https:\/\/www.kopykitab.com\/blog\/cbse-class-12-accountancy-sample-papers\/\" target=\"_blank\" rel=\"noopener noreferrer\">12th Accountancy Sample Papers<\/a><\/li>\n<li><a class=\"in-cell-link\" href=\"https:\/\/www.kopykitab.com\/blog\/cbse-class-12-accountancy-previous-year-papers\/\" target=\"_blank\" rel=\"noopener noreferrer\">12th Accountancy Previous year Papers<\/a><\/li>\n<li><a class=\"in-cell-link\" href=\"https:\/\/www.kopykitab.com\/blog\/cbse-class-12-accountancy-revision-notes\/\" target=\"_blank\" rel=\"noopener noreferrer\">12th Accountancy Revision Notes<\/a><\/li>\n<li><a class=\"in-cell-link\" href=\"https:\/\/www.kopykitab.com\/blog\/cbse-class-12-accountancy-ts-grewal-solutions\/\" target=\"_blank\" rel=\"noopener noreferrer\">TS Grewal Class 12 Accountancy Solutions<\/a><\/li>\n<\/ul>\n<\/div>\n<h2><span class=\"ez-toc-section\" id=\"benefits-of-ncert-solutions-for-class-12-accountancy-part-1-chapter-3-pdf\"><\/span><strong>Benefits of NCERT Solutions for Class 12 Accountancy Part 1 Chapter 3 PDF<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>You will find few advantages in the sections that follow.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"1-it-allows-you-to-study-for-the-exams\"><\/span><strong>1. <\/strong><strong>It allows you to Study for the Exams<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>NCERT Solutions have questions at the end of each chapter, and chapter three, Reconstitution of a Partnership Firm, is no different. By writing answers to them, you will get enough practice to face the exams confidently.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"2-it-helps-you-to-learn-essential-concepts-in-accountancy\"><\/span><strong>2. <\/strong><strong>It Helps you to Learn Essential Concepts in Accountancy<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>By going through NCERT solutions, you will also be able to learn and interpret various essential concepts not only for the exams but also for higher education.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"3-it-enables-you-to-understand-the-working-of-a-partnership-firm\"><\/span><strong>3. <\/strong><strong>It Enables you to Understand the Working of a Partnership Firm<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>NCERT Solutions for chapter three in Accountancy also helps you understand a partnership firm&#8217;s working in its constitution and operation. It also lets you know the different scenarios in which a partnership firm&#8217;s restructuring occurs, such as one or more partners&#8217; death.<\/p>\n<p>We have covered the detailed guide on\u00a0<a href=\"http:\/\/cbseacademic.nic.in\/\" target=\"_blank\" rel=\"nofollow noopener\"><strong>CBSE<\/strong><\/a> NCERT Solutions for Class 12 Accountancy Part 1 Chapter 3. Feel free to ask any questions in the comment section below.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"faqs-on-ncert-solutions-for-class-12-accountancy-part-1-chapter-3\"><\/span><strong>FAQs on NCERT Solutions for Class 12 Accountancy Part 1 Chapter 3<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n<div id=\"rank-math-faq\" class=\"rank-math-block\">\n<div class=\"rank-math-list \">\n<div id=\"faq-question-1623654944953\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><span class=\"ez-toc-section\" id=\"what-are-the-benefits-of-the-cbse-ncert-solutions-for-class-12-accountancy-part-1-chapter-3\"><\/span>What are the benefits of the CBSE NCERT Solutions for Class 12 Accountancy Part 1 Chapter 3?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>Go through the above blog for the benefits of solving NCERT Solutions for Class 12 Accountancy Part 1 Chapter 3.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1623654977939\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><span class=\"ez-toc-section\" id=\"define-the-term-goodwill-as-mentioned-in-ncert-solutions-for-class-12-accountancy-part-1-chapter-3\"><\/span>Define the term goodwill as mentioned in NCERT Solutions for Class 12 Accountancy Part 1 Chapter 3?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>Intangible assets that are used to reflect the firm&#8217;s value and the brand name&#8217;s reputation in the current market are referred to as goodwill.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1623655037439\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><span class=\"ez-toc-section\" id=\"what-is-the-sacrificing-ratio-calculation-formula\"><\/span>What is the Sacrificing Ratio Calculation Formula?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>The sacrifice ratio is calculated using the following formula:<br \/><strong>Sacrificing ratio = old profit sharing ratio &#8211; new profit sharing ratio<\/strong><\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1623655650933\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><span class=\"ez-toc-section\" id=\"what-are-the-different-methods-for-treating-goodwill-when-adding-a-new-member\"><\/span>What are the Different Methods for Treating Goodwill When Adding a New Member?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>These are the strategies for dealing with goodwill when a new member is added:<br \/>Revaluation method. <br \/>Premium method.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1623655722244\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><span class=\"ez-toc-section\" id=\"is-it-possible-to-get-the-ncert-solutions-for-class-12-accountancy-part-1-chapter-3-for-free\"><\/span>Is it possible to get the NCERT Solutions for Class 12 Accountancy Part 1 Chapter 3 for free?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>Yes, students can get the NCERT Solutions for Class 12 Accountancy Part 1 Chapter 3 in PDF format for free from the above article.<\/p>\n\n<\/div>\n<\/div>\n<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>NCERT Solutions for Class 12 Accountancy Part 1 Chapter 3:\u00a0Chapter three in Accountancy for CBSE class 12 is the Reconstitution of a Partnership Firm. It emphasizes the admission of a partner. The chapter comes under Part one of Accountancy for CBSE class 12. It consists of various questions that are likely to appear in the &#8230; <a title=\"NCERT Solutions for Class 12 Accountancy Part 1 Chapter 3 -Reconstitution of a Partnership Firm -Admission of a Partner\" class=\"read-more\" href=\"https:\/\/www.kopykitab.com\/blog\/ncert-solutions-for-class-12-accountancy-part-1-chapter-3-reconstitution-of-a-partnership-firm-admission-of-a-partner\/\" aria-label=\"More on NCERT Solutions for Class 12 Accountancy Part 1 Chapter 3 -Reconstitution of a Partnership Firm -Admission of a Partner\">Read more<\/a><\/p>\n","protected":false},"author":238,"featured_media":57316,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":""},"categories":[2934,2917,73693,2985],"tags":[3429,62019,3570,75399,75092],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/posts\/57379"}],"collection":[{"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/users\/238"}],"replies":[{"embeddable":true,"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/comments?post=57379"}],"version-history":[{"count":4,"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/posts\/57379\/revisions"}],"predecessor-version":[{"id":95837,"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/posts\/57379\/revisions\/95837"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/media\/57316"}],"wp:attachment":[{"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/media?parent=57379"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/categories?post=57379"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/tags?post=57379"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}