Chapter 4: Admission of a Partner
1 / 50
Admission mainly affects:
2 / 50
Revaluation ensures:
3 / 50
Profit sacrificed is compensated by:
4 / 50
New partner does not share:
5 / 50
Old partnership ends and new begins:
6 / 50
Admission increases:
7 / 50
Profit-sharing ratio change leads to:
8 / 50
Hidden goodwill is used when:
9 / 50
New partner brings:
10 / 50
Memorandum revaluation account is prepared when:
11 / 50
Total capital may be:
12 / 50
Adjustment entry affects:
13 / 50
New partner’s capital =
14 / 50
Capital accounts are:
15 / 50
Adjusted capital is based on:
16 / 50
Capital adjustment ensures:
17 / 50
Deficiency of capital is:
18 / 50
Excess capital is:
19 / 50
If capital is not given:
20 / 50
Capital of new partner is based on:
21 / 50
Old partners share revaluation in:
22 / 50
Revaluation is needed at:
23 / 50
Revaluation A/c balance is transferred to:
24 / 50
Unrecorded liabilities are:
25 / 50
Unrecorded assets are:
26 / 50
Revaluation account is a:
27 / 50
Profit on revaluation goes to:
28 / 50
Loss on revaluation is transferred to:
29 / 50
Decrease in liability:
30 / 50
Increase in asset value:
31 / 50
Hidden goodwill =
32 / 50
Goodwill account is raised when:
33 / 50
Premium for goodwill is shared in:
34 / 50
Gaining ratio is used in:
35 / 50
If goodwill not brought in cash:
36 / 50
New partner’s share is:
37 / 50
Hidden goodwill is calculated when:
38 / 50
Goodwill is compensation for:
39 / 50
If goodwill is paid privately:
40 / 50
Sacrificing ratio =
41 / 50
Goodwill brought in cash is credited to:
42 / 50
Premium for goodwill is paid by:
43 / 50
New profit-sharing ratio includes:
44 / 50
Sacrificing ratio is calculated for:
45 / 50
Revaluation account is prepared to:
46 / 50
New partner acquires:
47 / 50
Goodwill is a:
48 / 50
Admission requires consent of:
49 / 50
A new partner is admitted for:
50 / 50
Admission of a partner results in:
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