Question 2 :
Not-for-Profit organisations refer to the organisations that are used for the welfare of the _________ and are set up as charitable institutions which function without any profit motive.
Question 4 :
Taking all ______ assets with additions after charging depreciation and showing them on the assets side is one step adopted in preparation of balance sheet.
Question 5 :
Which of the following is generally considered as a non-profit oriented organization ?
Question 6 :
At the beginning of accounting year the following particulars are extracted value of Assets Rs. 25,000, Liabilities Rs. 5,000, Debit balance of income and expenditure account Rs. 2,500. Then capital fund will be ____________.
Question 8 :
Which one of the following concepts is used as fund in the preparation of Funds Flow Statements?
Question 9 :
The information for the preparation of receipt and payments account is taken from _________.
Question 10 :
If a receipt of $Rs.200$ from Rajesh who is a debtor to the company has not been recorded in the books, then the profit would show __________.
Question 11 :
'Samta Limited invited applications for issuing $6,750$ equity shares of $Rs 10$ each. The amount was payable as follows : On application - $Rs 3$ per share <br>On allotment - $Rs 5$ per share <br>On first and final call - $Rs 2$ per share <br>The issue was fully subscribed. Subhash applied for $250$ shares and paid his entire share money with application. Moti applied for $175$ shares and paid allotment money also with application. The amount received with applications was :<br>
Question 13 :
On the admission of a new partner, the decrease in the value of assets is debited to:<br/>
Question 14 :
Profit or loss on revaluation of assets and liabilities is transferred to __________.
Question 15 :
Which of the following assumes paramount importance for investing surplus cash by a firm?
Question 16 :
State whether the following statements are True and False.<br>When goodwill is paid privately, its entry in the books of accounts is not required.
Question 17 :
If the incoming partner is to bring in premium for goodwill in cash and also balance exist, in the goodwill Account, then this Goodwill Account is written off among the old partners in _________ .
Question 18 :
The business of partnership firm must be carried on by all the partners.
Question 19 :
When the incoming partner brings in his share of premium for goodwill in cash, it is adjusted by crediting to ____________ .
Question 20 :
How are unrecorded assets treated at the time of retirements of  partners?
Question 21 :
When required amount for premium for goodwill is not brought in by new partner, goodwill account is raised in the books of the firm by debiting goodwill account and crediting partners capital account in old profit sharing ratio and written off in ______ if it agreed not show goodwill in the books of the firm OR ALTERNATIVELY premium for goodwill should be adjusted through partners capital account by debiting new partners share of goodwill to his account and crediting old partners capital accounts in _________.
Question 22 :
Accumulated Profits/Losses & Reserves on the retirement of a partner are shared by the partners in their __________. 
Question 23 :
Retiring Partners share of goodwill is debited to remaining partners in their _________. 
Question 24 :
Freight paid on purchases of goods is added to the amount of purchases.
Question 26 :
Which of these is not found in case of retirement /death of a partner?
Question 27 :
The following particulars are available in respect of the business carried on by a partnership firm:<br>Trading Results:<table class="wysiwyg-table"><tbody><tr><td>$2011$ Loss Rs. $5,000$</td></tr><tr><td>$2012$ Loss Rs. $10,000$</td></tr><tr><td>$2013$ Profit Rs. $75,000$</td></tr><tr><td>$2014$ Profit Rs. $60,000$</td></tr></tbody></table>You are required to compute the value of goodwill on the basis of $5$ years purchase of average profit.
Question 28 :
If Partnership deed is absent than the amount due to Retiring partner is settled as under ______________ .<br/>
Question 30 :
X & Associates is a partnership firm, it intends to revalue its goodwill, average profit for the past five years is Rs. 15,000 per annum and goodwill is being valued 5 years purchase of super profit. What would be the value of the goodwill of the firm if normal profit of the firm is Rs.12,000?
Question 31 :
A and B are partners sharing profits and losses in the ratio of $3: 2$. They admit C into the partnership for $1/4$th share. C brings in $Rs.6,000$ for capital and the requisite amount of premium in cash. The goodwill of the firm is valued at $Rs.9,600$. Partners withdrew their share of goodwill in cash. A and B withdrew  ________. 
Question 32 :
Which of the following is the method for valuation for Goodwill?<br/>
Question 33 :
How unrecorded assets are treated at the time of retirement of a partner?
Question 34 :
The profits of last three years are $Rs.42,000$; $Rs.39,000$ and $Rs.45,000$. Find the goodwill of $2$ years purchase.
Question 35 :
A,B and C are three partners sharing profit and loss in the ratio of 3:2:1. B retire from the firm.If B's share of profit is purchased by C. What will be new profit sharing ratio? 
Question 36 :
A, B & C are equal partners. C wanted to retire for which value of goodwill is considered as $Rs.90,000$.<br/>The necessary journal entry will be:   
Question 38 :
A,B and C are sharing profit and loss in the ratio of 4:3:2,B retires and remaining partner agree to share profit in the ratio of 5:3 and decides not to raise goodwill a/c. Goodwill of the firm is valued at Rs.72,000. What would be the adjustment entry________.
Question 39 :
Increase in assets at the time of retirement of partner is _______.
Question 40 :
A, B & C partners in a firm sharing profits losses in the ratio of 4:3:2. B decided to retire from the firm. Calculate the new profit sharing ratio of A and C if B gives his share to A only.