There are ____________ main methods of treatment of goodwill.
Two
Three
Four
Five
___________ is the value of the reputation of a firm in respect of profits expected in future over and above the normal rate of profits.
Goodwill
Revaluation
Profit
Capital
The amount of premium brought in by the new partner is shared amongst the old partners in their ____________.
Gaining ratio
Sacrificing ratio
Old ratio
New ratio
On the eve of admission
The profit sharing ratio will be modified
Not changed
New partner's share is only granted
None of the above
Under revaluation method goodwill is raised by__________.
All partners
New partners
Old partners
None of these
Accumulated profit is __________.
Reserve and undistributed profit
Capital profit
Undistributed profit only
____________ is the excess of old share over the new share of the old partners.
Revaluation account is__________
Nominal A/c
Real A/c
Personal A/c
A new partner is admitted ___________
For an additional capital or for managerial help
As an employee
For sharing profit or loss
Share of goodwill brought in cash by the new partner is called ____________.
Premium
Loss
