Select the most appropriate answer from the alternative given below and rewrite the sentence. Chapter 5 - Reconstitution of Partnership Death of Partner Latest edition

Balbharati solutions for Book-keeping and Accountancy 12th Standard HSC Maharashtra State Board 

 

Chapter 5 - Reconstitution of Partnership (Death of Partner) [Latest edition]

 

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

 

Benefit Ratio is the Ratio in which _______________

The old partner gain on the admission of a new partner

The Goodwill of a new partner on admission is credited to old partners

The continuing partner's benefits on retirement or death of a partner

All partners are benefited

  

The ratio by which existing partners are benefited __________ 

Gain Ratio

Sacrifice Ratio

Profit Ratio

Capital Ratio

  

Profit and Loss Suspense Account is shown in the new Balance Sheet on _______________ side.

  

Debit

Credit

Asset

Liabilities

 

Death is a compulsory_____________

  

Dissolution

Admission

Retirement

Winding-up

 

The balance on the capital account of partners, on his death, is transferred to____________ account.

  

Relatives

Legal Heir's loan / Executors loan

Partner's capital

Partners Loan