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Select the most appropriate alternative from those given below and rewrite the sentence.

14 Dec 2020 6:52 am

Chapter 4, Reconstitution of Partnership, (Retirement of Partner), Balbharati, Solutions, for, Book-keeping, and, Accountancy, 12th, Standard, HSC, Maharashtra, State, Board,

Select the most appropriate alternative from those given below and rewrite the sentence.

The Profit or Loss from revaluation on the retirement of a partner is shared by ______.

The remaining partners

All the partners

Only retiring partner

Bank

Decrease in the value of assets should be __________to profit and Loss Adjustment Account.

Debited

Credited

Added

Equal

The balance of the capital account of retired partner is transferred to his _________ account if it is not paid.

Loan

Personal

Current

Son’s

Gain ratio _______ Ratio less Old Ratio Gain Ratio _____ Ratio less Old Ratio.

New

Equal

Capital

Sacrifice

New Ratio = Old Ratio + _____ Ratio

Gain

Capital

Sacrifice

Current

Apte, Bhate and Chitale are sharing 1/2, 3/10, and 1/5 if Apte retire their new ratio will be ______ .

5: 2

3: 2

5: 3

2: 5


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