Under ___________ method, the new partner does not bring in his share of goodwill in cash, a goodwill account is raised in the firm's book.
Premium
Revaluation
Realisation
Memorandum revaluation
The ratio in which the old partners lose or sacrifice their profit is called
Sacrificing ratio
Gaining ratio
Old ratio
New ratio
Capital can be contributed the new partner in terms of
Cash and assets
Cash only
Assets only
None of these
Capitalisation method is the method for __________.
Valuing assets
Valuing capital
Valuation of goodwill
None of the above
Revaluation account is__________.
Nominal A/c
Real A/c
Personal A/c
On premium method goodwill is to be _____________.
Contributed by new partner
Raised by the existing partners
Valued by an authority
On admission of a partner, good will brought in cash has to be credited to the existing partners in the ____________ ratio.
Profit sharing
Old
Sacrificing
New
There are ____________ main methods of treatment of goodwill.
Two
Three
Four
Five
A new partner is admitted ___________.
For an additional capital or for managerial help
As an employee
For sharing profit or loss
___________ account is debited with increase in the amount of liabilities.
Income and Expenditure account
Profit and Loss account
Capital
