On revaluation, the increase in the value of assets leads to 

(a)

Gain

(b)

Loss

(c)

Expense

(d)

None of these

If the old profit sharing ratio is more than the new profit sharing ratio of a partner, the difference is called

(a)

Capital ratio

(b)

Sacrificing ratio

(c)

Gaining ratio

(d)

None of these

Which of the following statements is not true in relation to admission of a part _________.

(a)

Generally mutual rights of the partners change

(b)

The profits and losses of the previous years are distributed to the old partners

(c)

The firm is reconstituted under a new agreement

(d)

The existing agreement does not come to an end

Select the odd one out

(a)

Revaluation profit

(b)

Accumulated loss

(c)

Goodwill brought by new partner

(d)

Investment fluctuation fund

Balaji and Kamalesh are partners sharing profits and losses in the ratio of 2:1. They admit Yogesh into partnership. The new profit sharing ratio between Balaji, Kamalesh and Yogesh is agreed to 3:1:1. Find the sacrificing ratio between Balaji and Kamalesh.

(a)

1:3

(b)

3:1

(c)

2:1

(d)

1:2