From the following information, identify when goodwill is required to be calculated. (a) Admission of a Partner (b) Amalgamation of partnership firms (c) Dissolution of partnership firm (d) Retirement and Death of any partner (e) Preparation of Balance sheet Choose the correct answer from the options given below :

Question

Option 1: (a), (c), (d) only

Option 2: (a), (d), (e) only

Option 3: (a), (b), (d) only

Option 4: (b), (c), (d) only

AfterBoards · Accepted Answer

The answer is '(a), (b), (d) only'. View full solution:

List I	List II
A. Mutual Agency	I. It can be oral or written
B. Agreement	II. Written agreement
C. Liability of partners	III. Partnership concern carried by all or any of them acting for all.
D. Partnership deed	IV. Joint and unlimited

List-I	List-II
(A) Admission of a partner	(I) Executor Accounts
(B) Retirement of a partner	(II) Sacrificing Ratio
(C) Death of a partner	(III) Realisation Account
(D) Dissolution of a partnership	(IV) Gaining Ratio

CUET Accountancy 2022 20 July Shift 1 PYQs

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