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

1) The Profit or Loss from revaluation on the retirement of a partner is shared by ______.
a) The remaining partners
b) All the partners
c) Only retiring partner
d) Bank
 Ans:-b) All the partners

2) Decrease in the value of assets should be __________to profit and Loss Adjustment Account.
a) Debited
b) Credited
c) Added
d) Equal
 Ans:-a) Debited

3) The balance of the capital account of retired partner is transferred to his _________ account if it is not paid.
 a) Loan
b) Personal
c) Current
d) Son’s
 Ans:-a) Loan

4) Gain Ratio = _____ Ratio less Old Ratio.
a) New
b) Equal
c) Capital
d) Sacrifice

5) New Ratio = Old Ratio + _____ Ratio
a)  Gain
b) Capital
c) Sacrifice
d) Current
 Ans:-a) gain

6) Apte, Bhate and Chitale are sharing 1/2, 3/10, and 1/5 if Apte retire their new ratio will be ______ .
a)  5: 2
b) 3: 2
c) 5: 3
d) 2: 5
Ans:-b) 3:2