Under ___________ method,goodwill is raised in the books at its full value and written off immediately after the admission.
Premium
Revaluation
Memorandum revaluation
None of these
The __________ account should be shown on the asset side of the Balance sheet.
Goodwill
Trading
Capital
___________ account is created in its full value by crediting the amount in the old partner's capital account in their old ratio.
Accumulated profit at the time of admission of a partner is __________ to capital accounts of old partners.
Credited
Omitted
Debited
___________ is the value of the reputation of a firm in respect of profits expected in future over and above the normal rate of profits.
Profit
The ratio in which the old partners lose or sacrifice their profit is called the ___________.
Sacrificing ratio
Gaining ratio
Old ratio
New ratio
Revaluation account is a __________ account.
Real
Nominal
Personal