Fill in the blanks and rewrite the following sentence:i. New Ratio (le

1.	Fill in the blanks and rewrite the following sentence:i. New Ratio (less) ______________ = Gain ratio.ii. Retiring partner’s share of goodwill is _________ to remaining Partner’s Capital Account.iii. Revaluation A/c is also known as __________ Account.iv. On retirement, the balance at a Current Account of a partner is transferred to his __________ Account.v. A proportion in which the continuing partners get the share of retiring partner is known as __________ Ratio.
Answer» i. Old ratio ii. debited iii. Profit and Loss Adjustment iv. Capital v. Gain

Fill in the blanks and rewrite the following sentence:i. New Ratio (less) __________ = Gain ratio.ii. Retiring partner’s share of goodwill is _ to remaining Partner’s Capital Account.iii. Revaluation A/c is also known as Account.iv. On retirement, the balance at a Current Account of a partner is transferred to his Account.v. A proportion in which the continuing partners get the share of retiring partner is known as ______ Ratio.

Answer»

i. Old ratio

ii. debited

iii. Profit and Loss Adjustment

iv. Capital

v. Gain