#1. Anuj AND Eeshan are two partners sharing profits and losses in the ratio of 3:2. They decided to admit Aaroh for 1/5th SHARE, the new profit SHARING RATIO will be …………………..
#2. Excess of Proportionate capital over actual capital represents…………………..
#3. ……….is credited when unrecorded ASSET is brought into business.
#4. When goodwill is withdrawn by the partner………….. account is credited.
#5. If asset is taken over by the partner ……………… account is debited.
#6. If Asset is depreciated, Revaluation A/c is ………….
#7. ……………. Account is debited when unrecorded liability is brought into business.
#8. The proportion in which old partners make a sacrifice is called …………… Ratio
#9. The …………. ratio is useful for making adjustment for goodwill among the old partners.
#10. Krishna and Balram who are equal partners, admit Arjun into partnership for 1/4th share, their new profit sharing ratio will be ………………..
#11. In case of admission of partner, the profit or loss on revaluation of asset and liabilities is shared by ……….. partners.
#12. When the reserve fund s is distributed to old partners, the ………… Account is debited.
#13. Goodwill brought in by a new partner is shared by the old partners in their …………. Ratio
#14. ………….. ratio is a ratio surrendered by old partners in favour of a new partner.
#15. When goodwill is written off, partners capital account are ……………..
#16. X and Y are equal partners, admited Z into the partnership. If Z’s Share is 1/5th, the new profit sharing ratio of the partners will be …………
#17. A and B who are equal partners admit C into the partnership for 1/7th share. The new profit sharing ratio will be ……..
#18. If prepaid expenses are to be recorded in the books of account, they should be shown on the ……………. side of revaluation A/c
#19. If an asset is appreciated, Revaluation Account is …………
