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Write a word, term, phrase, which can substitute each of the following statement.

1. Excess of credit side over debit side of profit and loss adjustment account.

2. A Person who represents the deceased partner on the death of the Partner.

3. Accumulated past profit kept in the form of reserve.

4. The Partner who died.

5. The proportion in which the continuing partners benefit due to death of partner.

1 Answer

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1. Profit

2. Legal Heir's or Executor

3.  Reserve fund or General reserve

4. Deceased partner

5. Gain/Benefit ratio

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