08: When furniture value increased from OMR 10.000 to OMR 12.000, then revaluation account is c. Debited with OMR 2,000 a. Debited with OMR 12,000 d. Credited with OMR 2.000 b. Credited with OMR 12,000 09. Which of the following statement is true to co-ownership of property in partnership? C. Each partner has no claim on partnership assets a. Partnership assets are jointly owned by all partners b. If any investment is made by any partner, other partners have no ownership rights in that investment d. None of the listed Q10: When assets are realized at the time of dissolution of firm, which of the following account is debited b. Asset account a. Realization account d. Capital account of partners C. Cash account 911: AB associates share profits equally admits Partner into the firm. The new Profit sharing ratio of partners A, B, and C is 2:1:1 respectively. Then the Sacrifice ratio of A and B is: d. 4:3 a. 0:1 c. 3.2 b. 2:1 912: A and B are partners sharing profits and losses in the ratio of 1:1. They admit a new partner into the firm. A surrenders 4 of his share and B surrenders 1/3rd of his share infamounof the new partner. What is the sacrifice made by Ain vous of C a. X c. 1/6 d. 1/3 b. 1/8 Q13: A and B are partners sharing profits and losses in the ratio of 1:1. They admit C into partnership for 1/4th share. The new partner is unable to bring his share of goodwill. The goodwill of the firm is valued at OMR 12,000 The new profit sharing ratio of partners will be a. 3.3.2 d. 2:1:1 C. 4:32 b. 1:1:1 014: On dissolution of firm partner's capital accounts are closed through: d. Goodwill account a. Realisation account b. Bank account c. Drawings account