_________ is an invisible and intangible asset.
Cash
Revaluation
Capital
Goodwill
Accumulated profit at the time of admission of a partner is __________ to capital accounts of old partners.
Credited
Omitted
Debited
None of these
____________ enables a business concern to earn more profit on the capital employed by attracting more customers.
Realisation
___________ account is created in its full value by crediting the amount in the old partner's capital account in their old ratio.
Trading
__________ account is debited with increase in the amount of liabilities.
Income and expenditure account
Profit and loss account
Under ___________ method the new partner brings in his share of goodwill in cash.
Memorandum revaluation
Fixed
Premium
___________ is the value of the reputation of a firm in respect of profits expected in future over and above the normal rate of profits.
Profit
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