A ___________ is a nominal account.
Balance sheet
Receipts and Payments account
Revaluation account
None of these
New partner have the right to receive ___________
5% interest on capital p.a
4% interest on capital p.a
6% interest on capital p.a
None of the above
___________ is created in its full value by crediting the amount in the old partner's capital account in their old ratio.
Revaluation
Trading
Capital
Goodwill
__________ is an invisible and intangible asset.
Cash
Share of goodwill brought in cash by the new partner is called ____________.
Profit
Premium
Loss
Capitalisation method is the method for __________
Valuing assets
Valuing capital
Valuation of goodwill
Accumulated profit is __________.
Reserve and undistributed profit
Capital profit
Undistributed profit only
Goodwill is an ____________.
Tangible asset
Intangible asset
Only an imagination
The right of new partner is_______________
To control the management
To share the assets and profit of the firm
To be as an employee
Revaluation profit or loss is shared by_________.
New partner
All partner
Old partner
