Match list I with list II and choose the correct ans from the options given below:
| LIST 1 | LIST 2 |
| A) Loss on revaluation | I) Credited to old partners in old ratio |
| B) Profit on revaluation | II) Debited to profit and loss suspense A/c |
| C) Premium brought by new partner | III) Credited to old partners in sacrificing ratio |
| D) On death of a partner, profit till date of death is ₹2,000 | IV) Debited to old partners in old ratio |
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → A-IV, B-I, C-III, D-II
Each item goes to the partners or account that bears it:
(A) Loss on revaluation — this matches (IV) Debited to old partners in the old ratio. A net loss on revaluation is borne by the old partners in their old ratio.
(B) Profit on revaluation — this matches (I) Credited to old partners in old ratio. A net gain belongs to the old partners in the same ratio.
(C) Premium brought by new partner — this matches (III) Credited to old partners in sacrificing ratio. The premium compensates the partners who give up their share, in the ratio of their sacrifice.
(D) On the death of a partner, profit till the date of death is ₹2,000 — this matches (II) Debited to profit and loss suspense A/c. The deceased partner’s capital is credited and the Profit and Loss Suspense Account debited.
NCERT (2026-27 edition): NCERT (2026-27 edition): NCERT (2026-27 edition):
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