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
3) Profit and Loss Suspense Account is shown in the new Balance Sheet on _______________ side.
4) Death is a compulsory_____________
5) The balance on the capital account of partners, on his death, is transferred to____________ account.
b) Legal Heir’s loan/executors
c) Partner’s capital
d) Partners Loan
Ans:-b) Legal Heir’s loan/executors loan