Question

At the time of admission of a new partner, goodwill belongs to

• A. None of the above
• B. Belongs only to the old partner who have credited it
• C. Belongs only to the new partners who is going to be admitted
• D. Belongs to all partners, new and old

Answer 1

The correct option is B

Belongs only to the old partner who have credited it

At the time of admission of a new partner, goodwill belongs only to the old partners.