Multiple Choice Question In case partners have guaranteed profit to a partner and deficiency of profit. The deficiency happens it is borne by

(a) All the partners in new profit sharing

ratio

(b) Remaining partners in the ratio in which they have given guarantee (c) All the partners in sacrificing ratio. (d) All the partners in old profit sharing ratio.

True/False

1. The claim of Workmen Compensation is less than Workmen Compensation Reserve at the time of admission of a partner. The difference is Workmen Compensation Reserve and claim will be transferred to Capital Accounts of the old partners in their old profit sharing ratio. Fill in the Blank

2. If book value and the market value of investment is same, Investment Fluctuation Reserve at the time of Admission of a Partner, is distributed among

in their