Match List-I with List-II
| List-I | List-II |
|---|---|
| (A) Gaining Ratio | (I) An advantage of good name, reputation and wide business connections. |
| (B) New Profit Sharing Ratio | (II) The ratio in which the continuing partners have acquired the share from the retiring/deceased partner |
| (C) Sacrificing Ratio | (III) The ratio in which the remaining partners will share future profits after the retirement or death of any partner |
| (D) Goodwill | (IV) The ratio in which the old partners agree to sacrifice their share of profit in favour of the incoming partner |
Choose the correct answer from the options given below:
Held on 13 May 2025 · Verified 13 Jul 2026.
(A) - (II), (B) - (III), (C) - (IV), (D) - (I)
(A) - (I), (B) - (III), (C) - (II), (D) - (IV)
(A) - (II), (B) - (I), (C) - (IV), (D) - (III)
(A) - (III), (B) - (IV), (C) - (I), (D) - (II)
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An unrecorded asset is taken over by a creditor in full settlement in such a case
The liability of partners is
As per AS-26 Intangible assets like goodwill should be written off.
Identify the correct statement from the given below :-
By virtue of which section of the Indian Partnership Act 1932, partnership is defined as 'the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all'.
Work through every CUET UG Partnership PYQ, year by year.