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Home Questions 8JW4CHYWHT
Target Exam

CUET

Subject

-- Accountancy Part A

Chapter

Admission of a Partner

Question:

Match the following list 1 with list 2 related with partnership.

LIST 1 LIST 2
A) Sacrificing ratio I) Death of the partner
B) Executor Account II) Admission of new partner
C) New profit sharing ratio III) Dissolution of firm
D) Realisation Account IV) Retirement of partner

 Choose the correct answer from the options given below.

Options:

A-II, B-III, C-IV, D-I

A-II, B-I, C-III, D-IV

A-II, B-I, C-IV, D-III

A-I, B-II, C-III, D-IV

Correct Answer:

A-II, B-I, C-IV, D-III

Explanation:

The correct answer is option 3- A-II, B-I, C-IV, D-III.

LIST 1 LIST 2
A) Sacrificing ratio II) Admission of new partner
B) Executor Account I) Death of the partner
C) New profit sharing ratio IV) Retirement of partner
D) Realisation Account III) Dissolution of firm

* Sacrificing ratio is calculated at the time of admission of new partner. In this ratio new partner will compensate the existing partners.

* Executor account is made at the death of a partner.


* New profit sharing ratio is calculated at the time of both admission and retirement or death of a partner. As gaining ratio is calculated at the time of retirement so new profit ratio is related with retirement here.

* Realisation account is made at the time of dissolution of partnership firm.

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