Question 2 :
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 3 :
Profit or loss on revaluation of assets and liabilities is transferred to __________.
Question 4 :
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 5 :
The business of partnership firm must be carried on by all the partners.
Question 6 :
On the admission of a new partner, the decrease in the value of assets is debited to:<br/>
Question 7 :
Share of goodwill brought in cash by the new partner is shared by the old partners _________. 
Question 9 :
Retiring Partners share of goodwill is debited to remaining partners in their _________. 
Question 11 :
If Partnership deed is absent than the amount due to Retiring partner is settled as under ______________ .<br/>
Question 12 :
Freight paid on purchases of goods is added to the amount of purchases.
Question 13 :
Sometimes, the value of Goodwill has to be inferred from the agreement of capitals and profit sharing ratio among the partners, it is known as _______.
Question 14 :
If the purchase price exceeds the net assets taken over, the difference is treated as ___________.
Question 15 :
When the amount of goodwill is paid privately, the following entries are to be passed for this purpose:
Question 17 :
Accumulated profits/Losses & Reserves are shared by the old partners in their ________.
Question 18 :
Accumulated Profits/Losses & Reserves on the retirement of a partner are shared by the partners in their __________. 
Question 19 :
How unrecorded assets are treated at the time of retirement of a partner?
Question 20 :
Which of the following are true or false?a) A retiring partner will be held liable for the debts incurred by the firm after his retirement.<br/>b) He must give public notice to that effect<br/>
Question 21 :
Decrease in assets at the time if retirement of a partner is ________.
Question 22 :
Decreased in liability at the time of retirement of a partner is _________.
Question 23 :
The amount received from insurance company on the maturity of joint life policy is distributed amongst the partners ___________.<br/>
Question 24 :
Increase in liability at the time of retirement of a partner is _________.
Question 25 :
How are unrecorded assets treated at the time of retirements of  partners?
Question 26 :
An increase in the value of fixed asset is referred to as _________.
Question 27 :
According to Section $37$ of the Indian Partnership Act, 1932, the interest payable to the representative of deceased partner on the amount left by him will be ______________ .
Question 29 :
Which of these is not found in case of retirement /death of a partner?
Question 30 :
Tom and Ban are partners in a Firm for 2 : 1 ratio.<br/>They admitted Jay as new partner for 1/5 share. calculate new ratio ?<br/>
Question 32 :
A, B & C are sharing profits in 4:3:2 ratio. B retires. If A & C shares profits of B in 5:3, then find the new profit sharing ratio.
Question 33 :
Increase in liability at the time of retirement of partner is _______.
Question 34 :
Decrease in liability at the time of retirement of partner is ________.
Question 35 :
Increase in assets at the time of retirement of partner is _______.
Question 36 :
The following is not a mode of reconstitution of a partnership firm.
