Partenrship

Theoretical

Distinguish between Fixed and Fluctuating Capital Accounts. 

3. State the two main rights that a newly admitted partner acquires in the firm. 

4. How does the market situation affect the value of goodwill of a firm ? 

5 Give the meaning of partnership deed

 6 .How does location affect the goodwill of business? (1)

7. Define gaining ratio.

1.     8.   What is sacrificing ratio.                                                                                                                 

2.       9. Why goodwill is considered an intangible assets but not a fictitious assets .            

3.         X and  Y are partners sharing profits in the ratio of 3:1. They admit Z as A partner. X surrender 1/3 of his share and y ¼ of his share in favor of z. calculate new profit ratio?