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Why do we calculate Gaining Ratio?...

Why do we calculate Gaining Ratio?

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The objective of calculating Gaining Ratio is to find out the compensation to be paid by each of the remaining partners to the retirng/deceased partner.
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TS GREWAL-PRACTICAL ASSIGNMENT-6. RETIREMENT/DEATH OF A PARTNER VERY SHORT ANSWER QUESTIONS (1 MARK)
  1. What is meant by retirement of a partner?

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  2. Why do we calculate Gaining Ratio?

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  3. How is Gaining Ratio calculated ?

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  4. Give the formula for calculating gaining share of a partner in a partn...

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  5. P, Q and R were partners in a firm sharing profits in the ratio of 5 ...

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  6. X,Y and Z are partners sharing profits in the ratio of 1/2, 2/5 and 1/...

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  7. Neetu, Meetu and Teetu were partners in a firm. On 1st January, 2018, ...

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  8. X,Y and Z were partners sharing profits in the ratio of 1/2,3/10and 1/...

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  9. Give two circumstance in which the Gaining Ratio is comouted.

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  10. At the time of retirement of a partner, state the condition when there...

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  11. On the retirement of a partner how is the profit-sharing ratio of the ...

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  12. In which ratio do the remaining partners acquire the share of profit o...

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  13. Why heirs of retring/deceased partner are entitled to share of goodwil...

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  14. Name the account which is opened to credit the share of profit of the ...

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  15. Differentiate between 'Profit and Loss Appropriation Account' and 'Pro...

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  16. At what rate is interest payable on the amount remaining unpaid to the...

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  17. Why does a firm revaluate its assets and reassess its liabilities on r...

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  18. In which ratio do the remaining partners acquire the share of deceased...

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  19. Kumar, Verma and Naresh were partners in a firm sharing profit and los...

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  20. Jayant, Kartik and Leena were partners in a fierm sharing profits and ...

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