Unrecorded Liabilities – Partnership Adjustments Part 2
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class 12
CBSE Economics 2024 Answer Key
CBSE economics board paper 2024 has concluded. Here is the answer key for macro economics part for CBSE economics question paper 2024. Question paper Series No 11-58/1/1 Q No Solution 1 Answer (a). 2 Answer (c) 3 Answer (a) 4 Answer (d) 5 Answer (d) 6 Answer (d) 7 Answer (c) 8 Answer (d) 9
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Goodwill Accounting on retirement of a partner
The retiring partner is entitled to his share in firms Goodwill as he has also put in efforts in the formation of firm’s Goodwill. The retiring partner is paid back his share in the assets of the firm. Goodwill is also an asset for the firm. So retiring partner is paid his share from Goodwill
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Gaining Ratio and Sacrificing Ratio – Difference
Description Gaining Ratio Sacrificing Ratio Formula for calculation New profit Sharing Ratio Less Old Profit Sharing ratio Old profit sharing Ratio Less New profit Sharing Ratio When calculated a) Retirement of a Partner b) Change in profit sharing ratio among existing partners a) Admission of a partner b) Change in profit sharing ratio among existing
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Retirement of a Partner – Meaning and Effects
Retirement of a partner is another form of reconstitution of the firm.. In this case, also, the old partnership agreement comes to an end and a new partnership agreement comes into effect.. A partner may retire from the firm due to any of the following reasons: Adjustments required on the retirement of a partner Liabilities
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Broad money supply and Narrow money supply concepts
The measurements of money supply can be classified into Broad money supply and Narrow money supply. But to understand this first we have to understand the meaning of liquidity of money Liquidity of Money Liquidity refers to the efficiency or ease with which an asset or security can be converted into ready cash without affecting its market price. The most
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Supply of Money
There are two different concepts. First is stock of money and second is supply of money. And both are very much different. Lets first understand the stock of money. Stock of money includes the amount of money held by a) consumers of money i.e. people of the country and b) Suppliers/Producers of money i.e. Government
Evolution of Money
Money was not always the same as we see it today. It has taken many years of innovations to reach the present form of money. Here is a brief overview of the main stages of money development:
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Barter System Meaning and its limitations
The barter system is a system of exchange where goods and services are traded directly without the use of money. It is an ancient form of trade that was used before money was invented. However, the barter system has several limitations that make it inefficient and impractical in the modern economy. Some of these limitations
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