Across
- 1. – Distribution of profits among partners
- 6. – Method of goodwill valuation based on earlier profits
- 9. – Method of valuing goodwill using mean profits
- 10. – Ratio before admission of partner
- 11. – Extra amount paid for purchasing goodwill
- 13. – Contribution of partners to business
- 16. – Technique to calculate present value of future earnings
- 18. – Type of capital account method
- 21. – Intangible asset representing business reputation
- 22. – Process to reassess assets and liabilities
- 24. – Goodwill not shown in books
- 25. – Resources owned by firm
- 26. – Ratio showing partners’ share given up for new partner
- 28. – Type of profit leading to goodwill valuation
- 29. – Negative earnings to be shared by partners
Down
- 2. – Income earned by firm
- 3. – Used for profit sharing
- 4. – Capital remains unchanged except for additions/withdrawals
- 5. – People running a partnership business
- 7. – Brings automatic dissolution unless otherwise agreed
- 8. – Ratio after admission of partner
- 9. – Entry of new partner
- 12. – Trust and agency relationship among partners
- 14. – Life of partnership unless agreed otherwise
- 15. – Exit of existing partner
- 17. – Method to value goodwill using total worth of business
- 19. – Financial obligations of firm
- 20. – Relationship between persons sharing profits
- 23. – Accumulated profits retained in firm
- 27. – Business entity in partnership