On death  of a partner  the________ receives the  Joint   Life  Policy  amount  from the Insurance  Company.

Credit balance  in the Profit  and Loss account  indicates _________.

Goodwill is  calculated  on the basis of  the number  of past years  profit  is called __________.

General   Reserve account shows ________ balance.

On  retirement of a  partner,  the profit  on revaluation of assets  should be  created  in the capital accounts  of ______ partners.

The ratio  in which  the  old partners  have  agreed   to sacrifice  their shares  in profit   in favour of  a new  partner  is  called the ___________.

Change in relationship among  the partners  amount to  __________ of the  partnership firm.

Share of  goodwill brought  in cash  by the new  partner is  called _________.

Revaluation of assets   on the reconstitution of  partnership  firm  becomes  necessary  because their  present  values  may be  _________ from  their  books  value.

Gain or loss  arising  from revaluation  is shared by____________ partner's  in ________ ratio.