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Home Questions 8JW4CHYWHT
Target Exam

CUET

Subject

Accountancy

Chapter

Admission of a Partner

Question:

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

LIST 1 LIST 2
1) Sacrificing ratio a) Death of the partner
2) Executor Account b) Admission of new partner
3) New profit sharing ratio c) Dissolution of firm
4) Realisation Account d) Retirement of partner

 

Options:

1) d, 2) a, 3) c, 4) b

1) a, 2) d, 3) c, 4) b

1) b, 2) a, 3) d, 4) c

1) a, 2) b, 3) c, 4) d

Correct Answer:

1) b, 2) a, 3) d, 4) c

Explanation:

* 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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