Match List-I with List-IIList–I (Events)List–II (Result)(A) Profit share(I) Gaining ratio.(B) Admission of Partners(II) Different concept(C) Retirement of a partner.(III) Equally among partners(D) Dissolution of firm and partnership.(IV) Sacrifice ratio.Choose the correct answer from the options given below:
- A(A) - (I), (B) - (II), (C) - (III), (D) - (IV)
- B(A) - (I), (B) - (III), (C) - (II), (D) - (IV)
- C(A) - (I), (B) - (II), (C) - (IV), (D) - (III)
- D(A) - (III), (B) - (IV), (C) - (I), (D) - (II)
Solution & Step-by-step Explanation
To match the events with their correct results:(A) Profit share matches with (III) Equally among partners - In the absence of a partnership deed, profits and losses are shared equally among partners.(B) Admission of Partners matches with (IV) Sacrifice ratio - At the time of admission of a new partner, existing partners sacrifice a portion of their profit share in favor of the new partner.(C) Retirement of a partner matches with (I) Gaining ratio - When a partner retires, the continuing partners acquire the share of the retiring partner, which is calculated as the gaining ratio.(D) Dissolution of firm and partnership matches with (II) Different concept - Dissolution of partnership refers to change in the relations of partners, whereas dissolution of a firm means the complete closure of business operations. They are fundamentally different concepts.Therefore, the correct mapping is (A) - (III), (B) - (IV), (C) - (I), (D) - (II).