Retirement of Partner objectives

1. The account which shows revaluation of assets and liabilities.
2. Debit balance of revaluation account
3. The proportion in which the continuing partners benefit due to retirement of partner.
4. Excess of actual capital over proportionate capital.
5. The method under which amount payable to the retiring partners is paid off at a time.
6. Capital Account of a retiring partner always shows balance.
7. Credit balance of revaluation account.
8. An account which is opened to record the changes to the value of assets and liabilities.
9. Process in which partner severs the relation with the partnership firm due to old age.
10. Ratio by which remaining partners are benefited on retirement of any partner.
11. Ratio which is obtained by deducting old ratio from new ratio.

Ans.

1. Revaluation account
2. Loss on Revaluation
3. Gain ratio
4. Surplus
5. Lump - sump method
6. Credit Balance
7. Profit on revaluation
8. Revaluation account
9. Retirement of Partner.
10. Gain ratio
11. Gain ratio