The ratio in which the continuing partners have acquired the share from the deceased partner is known as .......

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

Sonu, Monu and Gopal are partners in a firm sharing profits and losses in the ratio of 3:2:1. Balance sheet shows workmen compensation reserve of Rs. 48,000. On retirement of Sonu, liability for workmen compensation reserve Rs. 24,000 is to be accounted. What amount of workmen compensation reserve is to be shown in the balance sheet of the reconstituted firm?

Gaining ratio among remaining partners Preeti and Shershah is

Select the correct sequence of accounts prepared in case of death of a partner.

(A) Prepare the deceased partner's executor's account.

(B) Determine the gaining ratio and new profit sharing ratio among the remaining partners.

(C) Prepare the deceased partner's capital account.

(D) Prepare the Revaluation account, if required.

Choose the correct answer from the options given below:

On retirement/death of a partner, the remaining partners who have gained due to change in profit sharing ratio should compensate the :

In the absence of any information regarding the profit sharing ratio in which the remaining partners acquire the share of the retiring/deceased partner, it is acquired in __________ .