Across
- 2. When a partner leaves the firm permanently.
- 5. When remaining partners gain the retiring partner’s share, it is called the _______ ratio.
- 6. Adjustment of goodwill, reserves, and assets on change in ratio.
- 7. When the old firm ends and a new one is formed by admitting a partner.
- 8. When the firm comes to an end.
Down
- 1. ACCOUNT The share of profit due to a deceased partner is credited to his _______
- 3. ACCOUNT The account in which the total amount due to the deceased partner is transferred.
- 4. DEED Written agreement among partners.
- 5. Value of a firm’s reputation in monetary terms
- 9. Minimum number of persons required to form a partnership.