Partnership

Accounting

Easy

common

Match List-I with List-II

List-I List-II
(A) Gaining Ratio (I) Average Profit X 100/Normal rate of return
(B) Value of Goodwill (II) Old Ratio - New Ratio
(C) Sacrificing Ratio (III) Super Profit X 100/Normal rate of return
(D) Capitalised Value of average profit (IV) New Ratio - Old Ratio

Choose the correct answer from the options given below:

List-I	List-II
(A) Gaining Ratio	(I) Average Profit X 100/Normal rate of return
(B) Value of Goodwill	(II) Old Ratio - New Ratio
(C) Sacrificing Ratio	(III) Super Profit X 100/Normal rate of return
(D) Capitalised Value of average profit	(IV) New Ratio - Old Ratio

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

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

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

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

✅ Correct Option: 2

Gaining Ratio measures what continuing partners acquire, so it is New Ratio minus Old Ratio, matching (IV). Sacrificing Ratio is the reverse, Old Ratio minus New Ratio, matching (II). Under the capitalisation of super profit method, goodwill equals super profit capitalised at the normal rate, matching (III). Capitalised value of average profit uses average profit capitalised at the normal rate, matching (I).

This gives (A)-(IV), (B)-(III), (C)-(II), (D)-(I).

2023: 20 June Shift 2

Select the conditions required for computing interest on drawings using average period method:

A. Equal amount of drawings

B. Fixed interval of drawings

C. Varying amounts of drawings

D. Different interval of drawings

E. Rate of Interest

Choose the correct answer from the options given below:

2025: 30 May Shift 2

Anupam and Abhishek are partners. Their capital accounts showed balances of Rs. 1,50,000 and Rs. 2,00,000 respectively on April 01, 2019. Show the interest on capital for the year ending march 31, 2020 allowed, if the partnership deed provides for interest on capital @ 8% p.a. and the firm earned a profit of Rs. 14,000 during the year:

2025: 2 June Shift 2

Reconstitution of partnership does not involves

2026: 29 May Shift 1

The Profit or Loss on revaluation of accounts is transferred to:

2026: 29 May Shift 1

Under the Fluctuating Capital Method, how many accounts are prepared for all adjustments like undistributed profits, reserves, etc. related to partners?

2025: 15 May Shift 1

Which of the following is correct?

The important provision affecting partnership accounting, in the absence of a partnership deed is:

Solution

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