| Assertion (A) : |
| A new partner brings Capital to get right in the assets of the firm, he also brings premium for goodwill to get the right to share future profits of the firm. |
| Reason (R) : |
| A partner may be exempted from the premium for goodwill, in such a case he will bring only his capital amount but he will get both the rights, right to share the assets of the firm as well as right to share the future profits of the firm. |
| Choose the Correct Option from the following: |
A) Assertion and Reason both are correct and Reason is the correct explanation of assertion
B) Assertion and Reason both are correct but Reason is not correct explanation of assertion
C) Both Assertion and Reason are not correct
D) Only Assertion is correct
Correct Answer: B
Solution :
Assertion and Reason both are correct but Reason is not correct explanation of assertion
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