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
Unrecorded assets is
Gain on revaluation
Loss on revaluation
Capital
None of the above
Accumulated profits at the time of admission of a partner is __________ to capital accounts of old partners.
Credited
Omitted
Debited
None of these
Under ___________ method, goodwill is raised in the books at its full value and written off immediately after the admission.
Premium
Revaluation
Memorandum revaluation
Capitalisation method is the method for __________.
Valuing assets
Valuing capital
Valuation of goodwill
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
Under _____________ method the new partner brings in his share of goodwill in cash.
Fixed
A new partner is admitted ___________.
For an additional capital or for managerial help
As an employee
For sharing profit or loss
On decreasing the amount of provision for doubtful debts, the __________ account is credited.
Profit and Loss
Trading
Balance sheet
Revaluation account is__________.
Nominal A/c
Real A/c
Personal A/c