Fill in the blank with akppropriate words: ltBrgt (i) The profit or loss shown by the Revalution Account at the time of retirement of a partner is transferred to the Capital Accounts of the Partners in the _________ ratio. (ii) At the time of retirement/death, the undistributed profits/losses and reserves are distributed among all the partners in their _________ profit-sharing ratio (iii) Unless agreed otherwise, it is presumed that the continuing partners gain in their _______ and hence their __________ is same as their old profit-sharing ratio. (iv) __________ is the ratio in which the remaining partners acquire the share of retiring or decreased partner. (v) At the time of retirement or death of a partner, goodwill appearing in the books of the firm is written-off among ___________ the partners in their _________ ratio. (vi) When firm pays an amount in excess of total amount due to the retiring partner, then excess amount is treated as ________

Fill in the blank with akppropriate words: ltBrgt (i) The profit or lo

1.	Fill in the blank with akppropriate words: ltBrgt (i) The profit or loss shown by the Revalution Account at the time of retirement of a partner is transferred to the Capital Accounts of the Partners in the _________ ratio. (ii) At the time of retirement/death, the undistributed profits/losses and reserves are distributed among all the partners in their _________ profit-sharing ratio (iii) Unless agreed otherwise, it is presumed that the continuing partners gain in their _______ and hence their __________ is same as their old profit-sharing ratio. (iv) __________ is the ratio in which the remaining partners acquire the share of retiring or decreased partner. (v) At the time of retirement or death of a partner, goodwill appearing in the books of the firm is written-off among ___________ the partners in their _________ ratio. (vi) When firm pays an amount in excess of total amount due to the retiring partner, then excess amount is treated as ________
Answer» Solution :(i) OLD profit-sharing (II) old (iii) old profit-sharing ratio, gaining ratio (iv) Gaining Ratio (v) all, old (VI) hidden GOODWILL

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