Write the Word/ Term/ Phrase which can substitute of the following statement:

1) Credit balance of Profit and Loss Adjustment Account.
Ans- Profit on revaluation Accounts.

2) The ratio in which the continuing partners are benefited due to the retirement of the partner.
Ans- Gain Ratio

3) Debit balance of revaluation Account.
Ans- Loss on revaluation

4) The ratio which is obtained by deducting the Old Ratio from New Ratio.
ans- Gain Ratio

5) Money value of business reputation earned by the firm over a number of years.
Ans- Goodwill.

6) Partner’s Account where Loss or Profit on revaluation is transferred.
Ans- Capital/Current Account.