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Q. Loss on realization is distributed among partners:

Q. Cost concept basically recognises ____

Q. The profit included in surplus or shortage of stock is transferred to ______ account

Q. An incoming partner pays his share of goodwill in cash, and profit sharing ration of old partner is changed, Goodwill be distributed among old partners:

Q. An account operated to ascertain the loss or gain at the death of a partner is called:

Q. When bonus share are received the average cost of the existing shares are ______

Q. Revaluation account is operated to find out gain or loss at the time of:

Q. Retirement or death of a partner.

Q. Goodwill of the firm is valued Rs. 30000. C an incoming partner purchase ¼ share of total profit Goodwill be raised in the books.

Q. The persons who have entered into a partnership business are individually called: