___________ is the value of reputation of a firm.
Registration certificate
Partnership Deed
Good will
None of these
Joint life policy gets matured on __________ of a partner.
Admission
Retirement
Death
Change in relationship among the partners amount to __________ of the partnership firm.
Reconstitution
Dissolution
Wind up
The ratio in which the old partners have agreed to sacrifice their shares in profit in favor of a new partner is called the
Gaining Ratio
Sacrificing Ratio
Old Ratio
If the incoming partner does not bring in his share of goodwill in cash, then _______ method, is followed.
Premium
Revaluation
Both a & b
On retirement of a partner, the profit on revaluation of assets should be created in the capital accounts of ______ partners.
Continuing partners
Retiring partner alone
All partners in the old ratio
Credit balance in the Profit and Loss account indicates _________.
Profit
Loss
Normal Profit
In _________method goodwill is valued on the basis of excess profits earned by a firm in comparison to average profits earned by other firms.
Average profit
Super profit
Capitalisation
On death of a partner the________ receives the Joint Life Policy amount from the Insurance Company.
Executor
Firm
Deceased Partner
Goodwill is calculated on the basis of the number of past years profit is called
Super Profit Method
Capitalisation Method
Average Profit Method