ACCOUNTS BLOCK

4. If profit-sharing ratio changes and market value of investment is more than the book value , investments fluctuation reserve existing in balance sheet is transferred to ___ account of partners in their old profit-sharing ratio.
5. Goodwill helps firms bring ____ Profits
7. THE PERSON WHO HAVE ENTERED INTO PARTNERSHIP ARE INDIVIUALLY KNOWN AS
9. The excess amount that a firm gets over and above the market value of assets at the time of sale of its business is
10. INTEREST ON LOAN PAID TO PARTNERS IN ABSENCE OF A PARTNERSHIP DEED
11. MINIMUM NUMBER OF PEOPLE REQUIRED IN A PARTNERSHIP FIRM
15. On retirement of a partner, unrecorded assets are credited to ____ Account
16. IN THE ABSENCE OF PARTNERSHIP DEED , PARTNERS SHARE PROFIT OR LOSSES
17. basis Receipts and Payments Account is prepared on
18. Purchased goodwill is acquired by the business after paying consideration in ____
19. LIABILITY OF A PARTNER IS

1. A PARTNERSHIP IS ESTABLISHED FOR
2. Dividend paid by a financial company is shown as cash outflow under ____ activities
3. If the partner of a firm decide to change their profit-sharing ratio, the gaining partner compensates the sacrificing ratio by paying the proportionate amount of _____.
4. IN THE ABSENCE OF AGREEMENT PARTNERS ARE NOT ENTITLED TO
6. Excess of Profits over the ____ is called super profit.
8. – 26 as per ____ goodwill is recorded in the books of accounts
12. WRITTEN AGREEMENT BETWEEN THE PARTNERS IS CALLED
13. If super profits are negative, then goodwill will be
14. GOODWILL IS A __ ASSET
15. WHICH ONE OF THE FOLLOWING ITEM CANNOT BE RECORDED IN THE PROFIT AND LOSS APPROPIATION ACCOUNT