P, Q and R are partners sharing profits in the ratio of 3:1:1 S admits in the firm for $\frac{2}{10}$ share in the future. The sacrificing ratio would be

At the time of admission of a new partner, general reserve appears in the old balance sheet is transferred to:

The purpose of preparing the Revaluation Account is:

Anshu and Nitu are partners, sharing profits in the ratio of 3:2. They admitted Jyoti as a new partner for 3/10 share which she acquired 2/10 from Anshu and 1/10 from Nitu. Calculate the new profit sharing ratio of Anshu, Nitu and Jyoti.

Arrange the steps in proper sequence to calculate Goodwill through Super profits Method.

(A) Calculate the normal profit on the firm's capital on the basis of the normal rate of return.

(B ) Calculate the average profit.

(C) Calculate the super profits by deducting normal profit from the average profits.

(D) Multiply super profits by the given number of years purchased.

Choose the correct answer from the options given below:

In this case Average profit is -

The ratio in which the old partners agree to sacrifice their share of profit in favour of the incoming partner is called sacrificing ratio. Identify the correct statements regarding sacrificing ratio.

(A) Sacrifice by a Partner = New Share of Profit – Old Share of Profit

(B) This ratio is calculated for all the partners i.e. old and incoming

(C) The ratio is normally clearly given as agreed among the partners, which could be the old ratio, equal sacrifice, or a specified ratio

(D) Sacrifice by a Partner = Old Share of Profit – New Share of Profit

Choose the correct answer from the options given below: