Match list I with list II and choose the correct ans from the options given below:

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

* Interest on Capital is provided only when the partnership deed specifically provide for it and the firm earns profit. In case of loss no interest on capital is provided.

* Gaining ratio is calculated at the time of retirement or death of a partner because remaining partners gains in the profit due to the exist of old partner.

* Sacrificing ratio is calculated at the time of admission of a new partner because old partners sacrifice some of their share in profit in favor of new partner.

* Revaluation of assets and liabilities are done at the time of both admission and retirement of a partner. The profit or loss arising on revaluation is distributed between old partners in their old profit sharing ratio.