Match List-I with List-II
| List-I | List-II |
|---|---|
| (A) Incoming partner brings goodwill in cash | (I) No entry to be passed |
| (B) Goodwill already exist in the books | (II) Sacrificing partners are credited with their share and new partner is debited |
| (C) Incoming partner does not bring goodwill in cash | (III) Amount of Premium is shared by the existing partners in the sacrificing ratio |
| (D) Goodwill paid privately to sacrificing partners | (IV) Write-off the goodwill in old ratio |
Choose the correct answer from the options given below:
Answer & explanation
Correct answer: option 4
The correct answer is Option (4) →
(A) - (III), (B) - (IV), (C) - (II), (D) - (I)