Match List-I with List-II:List-IList-II(A) Admission of a New Partner(I) Realisation Account(B) Retirement of a Partner(II) Sacrificing ratio(C) Dissolution of Partnership(III) Executors Account(D) Death of A Partner(IV) Gaining RatioChoose the correct answer from the options given below:
- A(A) - (I), (B) - (II), (C) - (III), (D) - (IV)
- B(A) - (II), (B) - (IV), (C) - (I), (D) - (III)
- C(A) - (I), (B) - (II), (C) - (IV), (D) - (III)
- D(A) - (III), (B) - (IV), (C) - (I), (D) - (II)
Solution & Step-by-step Explanation
Matching the accounting processes with their core attributes:Admission of a New Partner (A): Requires calculating the Sacrificing ratio (II) to distribute goodwill.Retirement of a Partner (B): Requires calculating the Gaining Ratio (IV) to compensate the leaving partner.Dissolution of Partnership (C): Entails closing books via the Realisation Account (I).Death of A Partner (D): The final settlements due are routed to the Executors Account (III).This perfectly matches: (A) - (II), (B) - (IV), (C) - (I), (D) - (III).