On retirement of a partner, the retiring partner's capital account will be credited with _____ Option 1: His/her share of Goodwill Option 2: Good will of the firm Option 3: Share of Good will of Remaining Partners Option 4: His/her share of Goodwill and share of Goodwill of Remaining Partners

The answer is 'His/her share of Goodwill'. View full solution:

CUET Accountancy - On retirement of a partner, the retiring partner's capital account will be credited with _____ | PYQs + Solutions

CUET Accountancy 2022 30 Aug Shift 2

Partnership

Easy

His/her share of Goodwill

Good will of the firm

Share of Good will of Remaining Partners

His/her share of Goodwill and share of Goodwill of Remaining Partners

✅ Correct Option: 1