Select the most appropriate alternative from those given below and rewrite the sentence.

1) Benefit Ratio is the Ratio in which _______________
a) The old partner gain on the admission of a new partner
b) The Goodwill of a new partner on admission is credited to old partners
c)The continuing partner’s benefits on retirement or death of a partner
d)All partners are benefited
  Ans:-continuing partner’s benefits on retirement or death of a partner

2) The ratio by which existing partners are benefited __________ 
a) Gain Ratio
b) Sacrifice Ratio
c) Profit Ratio
d) Capital Ratio
  Ans:-Gain Ratio

3) Profit and Loss Suspense Account is shown in the new Balance Sheet on _______________ side.
 a) Debit
 b) Credit
 c) Asset
 d) Liabilities
 Ans:-c) Asset

4) Death is a compulsory_____________
 a) Dissolution
c) Retirement
d) Winding-up
 Ans:-c) Retirement

5) The balance on the capital account of partners, on his death, is transferred to____________ account.
a)  Relatives
b) Legal Heir’s loan/executors
c) Partner’s capital
d) Partners Loan
Ans:-b) Legal Heir’s loan/executors loan