Question : What journal entry will be made to write off the goodwill that was already present in the balance sheet at the time of partner retired?

Option 1: Retiring Partner’s Capital A/c          Dr.

               To Goodwill A/c

Option 2:  All Partner’s Capital A/cs (including retiring)         Dr. (in old ratio) 

                   To Goodwill A/c

Option 3: Remaining Partner’s Capital A/cs              Dr. (in gaining ratio) 

                         To Goodwill A/c

Option 4: Remaining Partner’s Capital A/cs         Dr. (in new ratio)

                To Goodwill A/c

Question : How is goodwill recorded when a partner retires?

Option 1: Remaining Partner’s Capital A/cs Dr. (In Gaining Ratio)

 To Retiring Partner’s Capital A/c (with his share of goodwill)

Option 2: Remaining Partner’s Capital A/cs Dr. (In New Ratio)

To Retiring Partner’s Capital A/c (with his share of goodwill)

Option 3: Goodwill A/c          Dr.

To Retiring Partner’s Capital A/c (with his share)

Option 4: Goodwill A/c              Dr.

To All Partner’s Capital A/cs (In Old Ratio)

Question : When a new partner brings his share of goodwill in cash, the amount is debited to - 

Option 1: Capital A/c of the new partner

Option 2: Cash A/c

Option 3: Goodwill A/c

Option 4: Capital A/cs of the old partners

Question : The sum is debited from the___________account when a new partner fails to bring his share of goodwill in cash -

Option 1: Premium A/c

Option 2: Current A/c of the new partner

Option 3: Capital A/cs of the old partners

Option 4: Premium A/c

Question : Nehru's approach to nation-building aimed to create a balance between which two aspects of society?  
 

Option 1: Urban and rural development  
 

Option 2: Tradition and modernity  
 

Option 3: Centralization and decentralization  

Option 4: Rich and poor  

Question : Realisation A/c is a :

Option 1: Nominal A/c

Option 2: Real A/c

Option 3: Personal A/c

Option 4: Real A/c as well as Personal A/c