Match List – I with List – II. List - I List - II (A) Retirement (I)… | Accountancy Part A CUET question

Match List – I with List – II.

List - I	List - II
(A) Retirement	(I) Sacrifice made by old partners
(B) Admission	(II) Equal Profit Sharing
(C) Absence of Partnership Deed	(III) Gaining Ratio of continuing partners
(D) Dissolution of Partnership firm	(IV) Settlement of Accounts

Choose the correct answer from the options given below :

Answer & explanation

Correct answer: option 4

The correct answer is Option (4) → (A)-(III), (B)-(I), (C)-(II), (D)-(IV)

(A) Retirement — this matches (III) Gaining Ratio of continuing partners. The partners who stay on take over the retiring partner’s share in their gaining ratio.

(B) Admission — this matches (I) Sacrifice made by old partners. The old partners give up part of their share to the new partner in their sacrificing ratio.

(C) Absence of Partnership Deed — this matches (II) Equal Profit Sharing. When there is no deed, the Partnership Act requires profits and losses to be shared equally.

(D) Dissolution of Partnership firm — this matches (IV) Settlement of Accounts. On dissolution the assets are realised and the accounts of creditors and partners are finally settled.

NCERT (2026-27 edition):
Gaining Ratio – “The ratio in which the continuing partners have acquired the share from the retiring/deceased partner is called the gaining ratio.”

NCERT (2026-27 edition):
Sacrificing Ratio – “The ratio in which the old partners agree to sacrifice their share of profit in favour of the incoming partner is called sacrificing ratio.”

NCERT (2026-27 edition):
Provisions of Partnership Act Relevant for Accounting – “… (a) Profit Sharing Ratio: If the partnership deed is silent about the profit sharing ratio, the profits and losses of the firm are to be shared equally by partners, irrespective of their capital contribution in the firm.”

NCERT (2026-27 edition):
Settlement of Accounts – “In case of dissolution of a firm, the firm ceases to conduct business and has to settle its accounts.”