Match List-I with List-II
| List-I | List-II |
|---|---|
| (Items to be adjusted on admission) | (side of account.) |
| (A) Existing goodwill | (i) Debit of capital account. |
| (B) Increase in value of assets. | (ii) Debit of revaluation account. |
| (C) Decrease in value of assets. | (iii) Credit of revaluation account. |
| (D) New partner capital. | (iv) Credit of capital account. |
Choose the correct answer from the options given below:
Held on 29 May 2025 · Verified 13 Jul 2026.
(A) - (I), (B) - (II), (C) - (III), (D) - (IV)
(A) - (I), (B) - (III), (C) - (II), (D) - (IV)
(A) - (I), (B) - (II), (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.
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