Question : Divya, Vikas and Varun are partners sharing profits in the ratio of 1/2: 1/8: 3/8 respectively. Vikas retires and surrenders 1/9 th from his share in favour of Divya and the remaining in favour of Varun. gaining ratio and new profit-sharing ratio will be :

Option 1: Gaining ratio 8: 1 and new profit sharing ratio 11: 7

Option 2: Gaining ratio 11: 7 and new profit sharing ratio 8: 1

Option 3: Gaining ratio 4: 2 and new profit sharing ratio 7: 11

Option 4: None of the above

Question : If the new partner brings his share of goodwill in cash, it will be shared by old partners in -

Option 1: Old profit sharing ratio

Option 2: New profit sharing ratio

Option 3: Ratio of sacrifice

Option 4: In Capital ratio

Question : Which of the following statements is incorrect?

Option 1: New Profit-sharing Ratio among remaining or continuing partners is same as their Old Profit-sharing Ratio.

Option 2: Gaining Ratio of remaining or continuing partners is same as their Old Profit-sharing Ratio.

Option 3: Gaining ratio is the ratio in which the remaining partners take the outgoing (retired or deceased) partner's share.

Option 4: None of the above

Question : In the event of change in profit-sharing ratio, profit and loss (credit balance) existing in the Balance Sheet is transferred to Capital Accounts of partners in their

Option 1: Sacrificing ratio

Option 2: Gaining ratio

Option 3: Old profit-sharing ratio

Option 4: New profit-sharing ratio

Question : Hari, Mohan and Sohan are partners sharing profit and losses in the ratio of 5:3:2.  Mohan died. His share  of profit  is to be taken by Hari and sohan in the ratio of 2:1. Calculate the new profit-sharing ratio and also calculate the gaining ratio

Option 1: New ratio 7:3 and Gaining ratio 2:1

Option 2: New ratio 7:3 and Gaining ratio 2:1

Option 3: Both A and B are correct

Option 4: None of the above