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प्रश्न
State whether the following statement is true or false with reason.
Retiring partner is called an outgoing partner.
पर्याय
True
False
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उत्तर
Retiring partner is called an outgoing partner. - True
Explanation:
When a person retires from the firm due to health issues, financial issues, or personal reasons then it is known as a person retires from the business, and for the business, he is an outgoing partner.
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संबंधित प्रश्न
Select the most appropriate answer from the alternatives given below:
Gaining ratio is the ratio in which ______.
Gain ratio _______ Ratio less Old Ratio.
New Ratio = Old Ratio + _____ Ratio
Write the Word/Term/Phrase which can substitute of the following statement:
The ratio in which the continuing partners are benefited due to the retirement of partner.
Write the word/phrase/term/ which can substitute of the following statement:
The ratio which is obtained by deducting the Old Ratio from New Ratio.
State whether the following statement is true or false with reason.
Gain ratio means New ratio minus Old ratio.
State whether the following statement is true or false with reason.
On retirement of a partner, a sacrifice ratio is considered.
A proportion in which the continuing partners get the share of retiring partner is known as ________ ratio.
What is meant by Retirement of a Partner?
What is Benefit Ratio?
How is Gain Ratio calculated?
A, B and C are sharing profits and losses in the ratio of 1/2, 3/10, and 1/5 respectively. Find the new ratio of the remaining partners if A retires ______.
New Ratio (less) ______ = Gain ratio.
New Ratio (less) ____ = Gain ratio
New Ratio (less) ______ = Gain ratio
New Ratio (less) ______ = Gain ratio.
Aman, Bankim and Chitra are partners of a firm sharing profit and loss in the 3 : 3 : 2 ratio. Their firm Balance Sheet as on 31st March, 2023 is as under :
| Balance Sheet as on 31st March, 2023 | |||||
| Liabilities | Amount (₹) | Amount (₹) | Assets | Amount (₹) | Amount (₹) |
| Bills Payable | 8,050 | Cash | 18,900 | ||
| General Reserve | 14,000 | Debtors | 43,750 | ||
| Creditors | 30,100 | Investments | 42,000 | ||
| Capital Accounts: | Machinery | 30,450 | |||
| Aman | 42,000 | 1,19,000 | Furniture | 22,050 | |
| Bankim | 45,500 | Equipment | 14,000 | ||
| Chitra | 31,500 | ||||
| 1,71,150 | 1,71,150 | ||||
On 1st April 2023, Chitra retired from the firm on the following terms:
(1) Outstanding amount of retiring partner Chitra, be transferred to her loan account.
(2) Write off ₹ 1,750 as bad debts.
(3) ₹ 350 is now not payable to creditors.
(4) Assets are revalued as under:
| Furniture | ₹ 21,000 |
| Machinery | ₹ 28,000 |
| Equipments | ₹ 14,700 |
Pass necessary Journal entries in the books of firm.
Asha, Nimisha and Shital are partners sharing profits and losses in the ratio of 5 : 4 : 2. Shital retires. New ratio for Asha and Nimisha is 6 : 5. Calculate Gain ratio.
Find the odd one:
New Ratio (less) ______ = Gain ratio.
New Ratio (less) ______ = Gain ratio.
New Ratio (less) ______ = Gain ratio
New ratio (less) ______ = Gain ratio
New Ratio (less) _____ = Gain ratio
New Ratio (less) ______ = Gain ratio
New Ratio (less) ______ = Gain ratio
New Ratio (less) ______ = Gain ratio
New Ratio (less) _________ = Gain ratio
New Ratio (less) ______ = Gain ratio.
