Consider the below given statements related to the partnership and select the correct statements :-

(A) Partners may contribute capital in proportion to profit-sharing ratio.

(B) Partners must not get any interest on the loan provided by him to the firm in the absence of partnership deed.

(C) A partner cannot transfer his share without consent of other partners.

(D) Partners must contribute capital only in cash.

Choose the correct combination of statements from the options given below:

The Goodwill of a firm is Rs 30,000, when it is valued at three years' purchase of the super profits of the business. Find the normal rate of return, if the firm's capital employed is Rs 5,00,000 and average profits of last five years were Rs 60,000.

The following are the modes of reconstitution of a partnership firm

(A) Death of a partner

(B) Dissolution of the firm by notice

(C) Change in the profit sharing ratio among existing partners

(D) Admission of a new partner

Choose the correct answer from the options given below:

Which of the following statement is incorrect?

Choose the correct option for transferring partner's salary to Profit and Loss Appropriation A/c

The steps in the Process of Preparing Profit and Loss Appropriation account are :

(A) Transfer the net profit to the credit side of P & L Appropriation A/c

(B) Divide the Profit among partners in the Profit Sharing ratio

(C) Ascertain net profit after providing for all charges

(D) Debit the P & L Appropriation A/c with all appropriations like partners salary etc.

(E) Credit the P & L Appropriation A/c with interest on drawing and deficiency on account of partner's guarantee of earnings to the firm.

Choose the correct answer from the options given below :

Match List-I with List-II