Partnership

Admission

Medium

common

Match the LIST-I with LIST-II

LIST-I LIST-II
A. Sacrificing ratio I. New ratio - Old ratio
B. Gaining ratio II. Credit Side of Revaluation A/c
C. Undervaluation of Stock III. Old ratio - New ratio
D. Overvaluation of Stock IV. Debit Side of Revaluation A/c

Choose the correct answer from the options given below:

LIST-I		LIST-II
A.	Sacrificing ratio	I. New ratio - Old ratio
B.	Gaining ratio	II. Credit Side of Revaluation A/c
C.	Undervaluation of Stock	III. Old ratio - New ratio
D.	Overvaluation of Stock	IV. Debit Side of Revaluation A/c

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

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

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

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

✅ Correct Option: 2

Sacrifice $=$ old ratio $-$ new ratio (III); gain $=$ new ratio $-$ old ratio (I). Undervalued stock must be raised in value, a gain, shown on the credit side of Revaluation A/c (II). Overvalued stock must be reduced, a loss, shown on the debit side (IV).

2026: 11 May Shift 2

Self - generated goodwill

2026: 20 May Shift 1

According to the Partnership Act 1932, a new partner can be admitted into the firm only with the consent of .............., unless otherwise agreed upon.

2026: 13 May Shift 1

Extract of Balance Sheet of a Partnership firm is given below :-

Liabilities	Amount (Rs.)	Assets	Amount (Rs.)
		Debtors	8,00,000
		Less (-) Provision For Bad Debts	(20,000)
			7,80,000

Provision for bad debts is to be made equal to 5% of debtors, for this adjustment what journal entry will be recorded related to Revaluation A/c?

2023: 11 June Shift 3

Hidden Goodwill is :

2025: 2 June Shift 2

Match List-I with List-II

List-I	List-II
(Types of goodwill)	(Treatment to done.)
(a) Existing Goodwill.	(I) no entry passed.
(B) Goodwill premium	(II) inferred from the capital arrangement.
(C) Goodwill paid privately.	(III) Written off.
(D) Hidden goodwill	(IV) credited to sacrificing partner.

Choose the correct answer from the options given below:

2025: 27 May Shift 2

Identify the steps involved in calculating goodwill under the capitalization of super profits method:

(A) Calculate capital of the firm, which is equal to total assets (excluding goodwill and fictitious assets) minus outside liabilities

(B) Multiply the super profits by the required rate of return multiplier

(D) Calculate super profits by deducting normal profits from average profits

(E) Calculate average profit for past years

Choose the correct answer from the options given below:

Match the LIST-I with LIST-II LIST-ILIST-IIA.Sacrificing ratioI. New ratio - Old ratioB.Gaining ratioII. Credit Side of Revaluation A/cC.Undervaluation of StockIII. Old ratio - New ratioD.Overvaluation of StockIV. Debit Side of Revaluation A/c Choose the correct answer from the options given below:

Solution

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