Which of the following statements are correct ?

(A) Retirement of a partner does not results into reconstitution of a firm.

(B) If the amount of any asset is understated, then the change, will be shown on the debit side of revaluation account.

(C) Profit or loss on the revaluation of assets and liabilities is distributed and transferred to capital account.

(D) Revaluation of asset is necessary because present value of assets may be different from book value.

Choose the Correct Combinations :

In the absence of any information regarding the acquisition of share in profits of the retiring/deceased partner by the remaining partners, it is assumed that they will acquire his/her share in________.

Rana, Sana and Kamana are partners, sharing profits in the ratio 4:3:2. Rana retires; Sana and Kamana decided to share profits in the future in the ratio of 5:3. The Gaining Ratio of Sana and Kamana will be

Ram, Karan and Shyam are partners. On retirement of Ram, the goodwill already appears in the Balance Sheet at Rs. 32,000. The goodwill will be written-off.

From the following options, which one should be deducted in ascertaining the amount due to retiring or deceased partner?

X, Y and Z are partners in the ratio of $\frac{1}{2}:\frac{2}{5}:\frac{1}{10}$. What will be the new ratio of the remaining partner if X retires?

A, B and C are partners in a firm sharing profits in the ratio of 3:2:1. B retired and the value of goodwill of the firm in valued at Rs. 60,000. A and C continued the business sharing profits in the ratio of 3:1. B's share of goodwill adjusted between A and C will be: