Chapter 5
আংশাদাৰী ব্য়ৱসায়ৰ হিচাপ : অংশীদাৰৰ
অৱসৰ গ্ৰহণ আৰু মৃত্য়ু
Partnershp Account : Retirement & Death Of Partner
1. Fill in the blanks with appropriate words from the bracket.
(i) A partner can retire from the business ______ the consent of all the other partners. (with/without)
Ans: With.
(ii) The ration in which the remaining partners are acquiring the share of the retiring partner is called ______ ratio. (sacrifice/gaining)
Ans: gaining.
(iii) At the time of retirement, in the absence of any agreement, goodwill is to be adjusted in the ______ ration. (old/new/gaining)
Ans: gaining.
(vi) At the time of retirement of a partner it is necessary to ______ assets and liabilities of the firm. (revalue/realise)
Ans: revalue.
(v) Upon retirement, adjustment for goodwill is made through the Partners ______ Account. (Capital/Drawings)
Ans: Capital.
(vi) Unless otherwise agreed, the retiring partner's share of profit will de taken over by all the partners in their ______ profit sharing ratio.(old/new)
Ans: old.
(vii) The profit or loss on revaluation of assets and liabilities is transferred to continuing partners in the ______ ratio. (new/old)
Ans: Old.
(viii) At the time of retirement, undrawn profits or retained earnings should be distributed amongst all the partners in their ______ ration.(Old/new)
Ans: Old.
(ix) Upon retirement, the purpose of revaluation is to convert the book values of the assets and liabilities into ______. (market value/historical cost)
Ans: Market value.
(x) The balance to the credit of retiring partner's capital account, if not paid in cash, must be transferred to ______ account. (Loan/Executor)
Ans: Loan.
(xi) The total amount due to a retiring partner is paid off in instalments when the amount is ______. (small/substantial)
Ans: Substantial.
(xii) the death of a partner will ______ the old partnership.(terminate/continue).
Ans: Terminate.
(xiii) When a partner dies, the combined share of the continuing partnes will ______. (increase/decrease).
Ans: Increase.
(xiv) In case of death of a partner the surviving partner can ______ the business in the usual manner. (continue/discontinue)
Ans: Continue.
(xv) Upon death, an adjustment of goodwill is ______. (required/not required)
Ans: Required.
(xvi) The accounting procedures on death of a partner are very similar to those that cover a partner's ______. (admission/retirement)
Ans: Retirement.
(xvii) A joint life policy is taken to make fund available for payment ______ the death of a partner. (before/after)
Ans: After.
(xviii) Amount due to deceased partner is generally transferred to his ______ account. (Loan/Executor)
Ans: Executor.
(For Paid User 300 for 1 Year)
(সকলো পাঠৰ Paid উত্তৰবোৰ চাব পাৰিব)
Type Nabajyoti Bora