Consider the following and select the correct statements

(A) The ratio in which the continuing partners acquire the outgoing partner's share is called the Gaining Ratio.

(B) The ratio in which the continuing partners acquire the outgoing partner's share is called the Sacrificing Ratio.

(C) In the event of the death of a partner, the amount of general reserve is transferred to partners' capital accounts in the new profit sharing ratio.

(D) On the admission of a new partner, the old partnership is dissolved.

Choose a pair of correct statements from the given options below.

G, H and P are partners. On retirement of G, the goodwill already appears in the Balance Sheet at Rs. 24,000. The goodwill will be written-off

In the absence of any information regarding the acquisition of shares in profit of the retiring/deceased partner by the remaining partners, it is assumed that they will acquire his share in:

Karan, Neha and Pankaj are partners sharing profits and losses in the ratio of 4 : 3 : 2. Neha retires and the goodwill is valued at Rs. 72,000. Karan and Pankaj decided to share future profits and losses in the ratio of 5 : 3. The journal entry for adjustment of goodwill will be:

Lalit, Pankaj and Rahul are partners sharing profits in the ratio of 4 : 3 : 3. After all adjustments, on Lalit's retirement with respect to general reserve, goodwill and revaluation etc., the balances in their capital accounts stood at Rs. 70,000, Rs. 60,000 and Rs. 50,000 respectively. It was decided that the amount payable to Lalit will be brought by Pankaj and Rahul in such a way as to make their capitals proportionate to their profit sharing ratio. After Lalit's retirement, the new profit sharing ratio between Pankaj and Rahul is 1:1. New Capital of the firm will be-

A, B and C are partners in a firm sharing profits in the ratio of 3:2:1. Firm is maintaining fixed capital accounts. B retired and the value of goodwill of the firm is valued at Rs. 1,80,000.

The journal entry for adjustment of goodwill will be :

Amitabh, Deepika and Lara are partners in a firm sharing profits in the ratio of 3:2:1. Deepika retires. After making all adjustments relating to revaluation, goodwill and accumulated profit etc., the capital accounts of Amitabh and Lara showed a credit balance of Rs. 1,60,000 and Rs. 80,000 respectively. It was decided to adjust the capitals of Amitabh and Lara in their new profit sharing ratio. Calculate the actual cash to be paid off or to be brought in by the continuing partners.