{"id":53053,"date":"2024-04-15T23:48:23","date_gmt":"2024-04-15T23:48:23","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=53053"},"modified":"2024-04-15T23:48:23","modified_gmt":"2024-04-15T23:48:23","slug":"if-the-goodwill-a-c-is-raised-at-the-time-of-retirement-of-a-partner-and-is-to-be-written-off-then-the-capital-accounts-of-the-remaining-partners-are-debited-in","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/if-the-goodwill-a-c-is-raised-at-the-time-of-retirement-of-a-partner-and-is-to-be-written-off-then-the-capital-accounts-of-the-remaining-partners-are-debited-in\/","title":{"rendered":"If the goodwill A\/c is raised at the time of retirement of a partner and is to be written off, then the capital accounts of the remaining partners are debited in"},"content":{"rendered":"<p>[amp_mcq option1=&#8221;new profit sharing ratio&#8221; option2=&#8221;capital ratio&#8221; option3=&#8221;old profit sharing ratio&#8221; option4=&#8221;sacrificing ratio&#8221; correct=&#8221;option4&#8243;]<!--more--><\/p>\n<p>The correct answer is: D. sacrificing ratio.<\/p>\n<p>When a partner retires, the goodwill of the firm is usually written off. This means that the value of the firm&#8217;s goodwill is reduced, and the capital accounts of the remaining partners are debited (reduced) in the sacrificing ratio. The sacrificing ratio is the ratio in which the remaining partners agree to share the loss of goodwill. This ratio is usually based on the partners&#8217; capital balances or profit sharing ratios.<\/p>\n<p>Here is a more detailed explanation of each option:<\/p>\n<ul>\n<li>Option A: new profit sharing ratio. This is incorrect because the new profit sharing ratio is not used to calculate the amount of goodwill that is written off. The new profit sharing ratio is only used to calculate the amount of profit that each partner will receive after the retirement of the old partner.<\/li>\n<li>Option B: capital ratio. This is incorrect because the capital ratio is not used to calculate the amount of goodwill that is written off. The capital ratio is only used to calculate the amount of capital that each partner has in the firm.<\/li>\n<li>Option C: old profit sharing ratio. This is incorrect because the old profit sharing ratio is not used to calculate the amount of goodwill that is written off. The old profit sharing ratio is only used to calculate the amount of profit that each partner received before the retirement of the old partner.<\/li>\n<li>Option D: sacrificing ratio. This is the correct answer because the sacrificing ratio is used to calculate the amount of goodwill that is written off. The sacrificing ratio is the ratio in which the remaining partners agree to share the loss of goodwill. This ratio is usually based on the partners&#8217; capital balances or profit sharing ratios.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>[amp_mcq option1=&#8221;new profit sharing ratio&#8221; option2=&#8221;capital ratio&#8221; option3=&#8221;old profit sharing ratio&#8221; option4=&#8221;sacrificing ratio&#8221; correct=&#8221;option4&#8243;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[85],"tags":[],"class_list":["post-53053","post","type-post","status-publish","format-standard","hentry","category-accounting","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>If the goodwill A\/c is raised at the time of retirement of a partner and is to be written off, then the capital accounts of the remaining partners are debited in<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/if-the-goodwill-a-c-is-raised-at-the-time-of-retirement-of-a-partner-and-is-to-be-written-off-then-the-capital-accounts-of-the-remaining-partners-are-debited-in\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"If the goodwill A\/c is raised at the time of retirement of a partner and is to be written off, then the capital accounts of the remaining partners are debited in\" \/>\n<meta property=\"og:description\" content=\"[amp_mcq option1=&#8221;new profit sharing ratio&#8221; option2=&#8221;capital ratio&#8221; option3=&#8221;old profit sharing ratio&#8221; option4=&#8221;sacrificing ratio&#8221; correct=&#8221;option4&#8243;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/exam.pscnotes.com\/mcq\/if-the-goodwill-a-c-is-raised-at-the-time-of-retirement-of-a-partner-and-is-to-be-written-off-then-the-capital-accounts-of-the-remaining-partners-are-debited-in\/\" \/>\n<meta property=\"og:site_name\" content=\"MCQ and Quiz for Exams\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-15T23:48:23+00:00\" \/>\n<meta name=\"author\" content=\"rawan239\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"rawan239\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"If the goodwill A\/c is raised at the time of retirement of a partner and is to be written off, then the capital accounts of the remaining partners are debited in","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/exam.pscnotes.com\/mcq\/if-the-goodwill-a-c-is-raised-at-the-time-of-retirement-of-a-partner-and-is-to-be-written-off-then-the-capital-accounts-of-the-remaining-partners-are-debited-in\/","og_locale":"en_US","og_type":"article","og_title":"If the goodwill A\/c is raised at the time of retirement of a partner and is to be written off, then the capital accounts of the remaining partners are debited in","og_description":"[amp_mcq option1=&#8221;new profit sharing ratio&#8221; option2=&#8221;capital ratio&#8221; option3=&#8221;old profit sharing ratio&#8221; option4=&#8221;sacrificing ratio&#8221; correct=&#8221;option4&#8243;]","og_url":"https:\/\/exam.pscnotes.com\/mcq\/if-the-goodwill-a-c-is-raised-at-the-time-of-retirement-of-a-partner-and-is-to-be-written-off-then-the-capital-accounts-of-the-remaining-partners-are-debited-in\/","og_site_name":"MCQ and Quiz for Exams","article_published_time":"2024-04-15T23:48:23+00:00","author":"rawan239","twitter_card":"summary_large_image","twitter_misc":{"Written by":"rawan239","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/exam.pscnotes.com\/mcq\/if-the-goodwill-a-c-is-raised-at-the-time-of-retirement-of-a-partner-and-is-to-be-written-off-then-the-capital-accounts-of-the-remaining-partners-are-debited-in\/","url":"https:\/\/exam.pscnotes.com\/mcq\/if-the-goodwill-a-c-is-raised-at-the-time-of-retirement-of-a-partner-and-is-to-be-written-off-then-the-capital-accounts-of-the-remaining-partners-are-debited-in\/","name":"If the goodwill A\/c is raised at the time of retirement of a partner and is to be written off, then the capital accounts of the remaining partners are debited in","isPartOf":{"@id":"https:\/\/exam.pscnotes.com\/mcq\/#website"},"datePublished":"2024-04-15T23:48:23+00:00","dateModified":"2024-04-15T23:48:23+00:00","author":{"@id":"https:\/\/exam.pscnotes.com\/mcq\/#\/schema\/person\/5807dafeb27d2ec82344d6cbd6c3d209"},"breadcrumb":{"@id":"https:\/\/exam.pscnotes.com\/mcq\/if-the-goodwill-a-c-is-raised-at-the-time-of-retirement-of-a-partner-and-is-to-be-written-off-then-the-capital-accounts-of-the-remaining-partners-are-debited-in\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/exam.pscnotes.com\/mcq\/if-the-goodwill-a-c-is-raised-at-the-time-of-retirement-of-a-partner-and-is-to-be-written-off-then-the-capital-accounts-of-the-remaining-partners-are-debited-in\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/exam.pscnotes.com\/mcq\/if-the-goodwill-a-c-is-raised-at-the-time-of-retirement-of-a-partner-and-is-to-be-written-off-then-the-capital-accounts-of-the-remaining-partners-are-debited-in\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/exam.pscnotes.com\/mcq\/"},{"@type":"ListItem","position":2,"name":"mcq","item":"https:\/\/exam.pscnotes.com\/mcq\/category\/mcq\/"},{"@type":"ListItem","position":3,"name":"accounting","item":"https:\/\/exam.pscnotes.com\/mcq\/category\/mcq\/accounting\/"},{"@type":"ListItem","position":4,"name":"If the goodwill A\/c is raised at the time of retirement of a partner and is to be written off, then the capital accounts of the remaining partners are debited in"}]},{"@type":"WebSite","@id":"https:\/\/exam.pscnotes.com\/mcq\/#website","url":"https:\/\/exam.pscnotes.com\/mcq\/","name":"MCQ and Quiz for Exams","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/exam.pscnotes.com\/mcq\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/exam.pscnotes.com\/mcq\/#\/schema\/person\/5807dafeb27d2ec82344d6cbd6c3d209","name":"rawan239","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/exam.pscnotes.com\/mcq\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/761a7274f9cce048fa5b921221e7934820d74514df93ef195a9d22af0c1c9001?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/761a7274f9cce048fa5b921221e7934820d74514df93ef195a9d22af0c1c9001?s=96&d=mm&r=g","caption":"rawan239"},"sameAs":["https:\/\/exam.pscnotes.com"],"url":"https:\/\/exam.pscnotes.com\/mcq\/author\/rawan239\/"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/posts\/53053","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/comments?post=53053"}],"version-history":[{"count":0,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/posts\/53053\/revisions"}],"wp:attachment":[{"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/media?parent=53053"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/categories?post=53053"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/tags?post=53053"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}