Q.1.
As per section ------------ of the Indian Partnership Act, a retiring partner becomes entitled to profits after retirement if his dues remain unpaid
Q.2.
At the time of retirement, amount remaining in Investment Fluctuation Reserve after meeting the fall in value of Investment is:
Q.3.
As per the sectionof the Indian partnership Act,1932,interest @______ is payable to the retiring partner if full or part of his dues remain unpaid.
Q.4.
If goodwill is already appearing in the books of accounts at the time of retirement,then it should be written off in __________.
Q.5.
At the time of retirement of partner ,share of retiring partners goodwill will be credited to _____ capital account(s).
Q.6.
When the balance sheet is prepared after retirement (subsequent to preparation of Revaluation account).---------values are shown in it
Q.7.
If at the time of retirement ,there is some unrecorded assert,it will be________ to_________account.
Q.8.
Retiring partner compensated for parting with the firm's future profit in favour of remaining partners.The remaining partners contribute to such compensation amount in
Q.9.
At the time of retirement,amount remaining in investment fluctuation reserve after meeting the fall in value of investment is
Q.10.
At the time of retirement of a partner,if goodwill appears in the Balance sheet,it must be written off and the capital accounts of all partners are debited in
Q.11.
In the event of death of a partner,the amount of general reserve is transferred to partners' capital accounts in
Q.12.
On the death of a partner,credit balance of profit and loss account appearing in the balance sheet should be credited to the capital accounts of
Q.13.
A,B, and C are partners sharing profits in the ratio of 2:2:1.C retired.The new profit-sharing ratio between A and B will be
Q.14.
The share of goodwill of the retiring partner is debited to remaining partners in their
Q.15.
If the retiring partner is not paid full amount due to him immediately on retirement,his balance is transferred to his
Q.16.
Is retiring partner liable for firm's act before his retirement
Q.17.
P,Q and R are partners sharing profits in the ratio of 8:5:P retires.Q takes 3/16th share from P and R takes 5/16th share from P.what will be the new profit sharing ratio?
Q.18.
Gaining ratio is used to distribute ______ in case of retirement of a partner
Q.19.
If three partners A, B, C are sharing profit as 5:3:2,then on the death of a partner A, how much B and C will pay to A executor on account of goodwill. Goodwill is to be calculated on the basic of 2 years purchase of last 3 years average profit, profits for the last 3 years are Rs. 3,28,Rs. 3,46,and Rs. 4,00,000.