If opening capital is Rs.10,000 & Closing capital is Rs.15,000 then profit or loss _________

In the revaluation account a decrease in the value of plant and machinery __________

When a fixed amount is withdrawn in the beginning of every month the period calculated for interest on drawings is ____________

_________maybe taken on the life of the partners in a partnership firm

___________ ratio is the agreed proportion in which future profit will be distributed to all the partners including the new partner.

Capital account balance of the sole proprietor alone as shown in the balance sheet of ________

On admission of a partner if goodwill account is to be raised this should be debited to __________

Match List I with List II and Select the Correct Answer using the Codes given below.

List I		List II
(i)	Nature	1.	Needs and conveniences
(ii)	Types of accounts	2.	No legal obligations
(iii)	Lack of uniformity	3.	Real account and nominal accounts
(iv)	Suitability	4.	Unsystematic way of transactions

________  is the good name or reputation of the business which brings benefit to the business

Goodwill acquired by making payment in cash or kind is called __________

Profits and losses of previous years which are not distributed to the partners are known as ___________

_______is the remuneration paid to a person who is not a regular employee of the organization

Income and Expenditure accounts show

Select the odd one out

A, B and C are partners sharing profits in the ratio of 4:2:3. C retires. The new profit sharing ratio between A and B will be

A limited company’s sales has increased from Rs.1,25,000 to Rs.1,50,000. How does this appear in comparative income statement?

When the average profit is Rs. 25,000 and the normal profit is Rs. 15,000, super profit is __________

When fixed capital method is adopted by a partnership firm, which of the following items will appear in capital account?

Subscription due but not received for the current year is

Which one of the following statements is not true in relation to incomplete records?