7 Which of the following journal entry is passed to transfer profit on Revaluation Account? d out of a. Partners Capital A/cs To Revaluation A/c b. Revaluation A/c To Good will A/C c. None of the options O d. Revaluation A/c To Partners Capital A/cs 2 8 Adil and Abdullah are partners profit sharing ratio is 3:3. Their Balance Sheet shows OMR 34,000 as Profit and Loss A/c in the liabilities side. What is the Journal entry in the books of accounts? d out of O a. Profit and Loss A/C 34,000 To Adil Capital A/c 17,000 Abdullah Capital A/C 17,000 b. Adil Capital A/c 17,000 Abdullah Capital A/c 17,000 To Profit and Loss A/c 34,000 Oc. None of the options O d. Adil Capital A/c 17,000 Abdullah Capital A/c 17,000 To Profit and Loss Appropriation A/c 34,000 .9 Which of the following reasons leads to reconstitution of partnership? out of a. Both Admission of a New Partner and Retirement of a Partner b. Admission of a New Partner Only c. Retirement of a partner Only O d. None of the options are correct -n 10 Mr Ahmed invests the capital only in Al-Maha Company but not willing to take any liability. What is Mr Ahmed called as? ed out of O a. Limited Partner b. General Partner C. Limited and General Partner d. None of the options n