Retirement or D...

X,Y and Z are three partners in a firm. Y died  on 1st January.The firm had taken a life policy of Rs.18,000 at an annual premium of Rs.700. On the date of death of Y the JLP appears a Rs 1800. The Policy was duly received. How the profit on JLP will be distributed?

When goodwill is revalued at the time of admission of a partner, how goodwill is distributed amongst the old partners? 

Consequent upon admission of a new partner in a firm the value of the goodwill is valued at Rs.60,000. But there exists a goodwill account in the balance sheet which stood at Rs.48,000 what would be treatment of goodwill at the time of admission of a new partner. If memorandum revaluation method is followed, after admission of a new partner?

_______ can be described as the sum of those intangible attributes or benefits enjoyed by the enterprise which contributes to its success.

The need for valuation of goodwill arises in all the following situations except

Goods worth Rs.2000 distributed as free sample, which A/c will be debited _________.

Which of these is an essential qualification to be a partner of a firm?

The term "person" for the purpose of a partnership agreement does not include a __________.

A and B are two partners in a firm having share capital of Rs. 13,000 and Rs.17,000 respectively. C is admitted for 1/3rd share of profit for which he is to bring Rs.20,000 for his share of capital. What is the goodwill of the firm?

Select the odd one out.