At the time of retirement of a Partner the remaining gaining partners should compensate the ______

In case of retirement of a partner from a firm, any lump sum amount paid to a retiring partner in excess of what is due to him, shall be treated as his share of __________.

When the deceased partner's share in the estimated loss is calculated for a period from the date of the latest Balance Sheet to the date of death of the partner, then :

In case at the time of retirement of Kabir, his share of goodwill is valued at Rs 15,000, then what will be the total value of firm valued goodwill on his retirement?

What is not included in the sum due to the retiring partner?

In the absence of any information regarding the acquisition of a share of profit of the retiring/deceased partner by the remaining partners, it is assumed that they will acquire his/her share in:

Select the correct sequence of accounts prepared in case of death of a partner.

(A) Prepare the deceased partner's executor's account.

(B) Determine the gaining ratio and new profit sharing ratio among the remaining partners.

(C) Prepare the deceased partner's capital account.

(D) Prepare the Revaluation account, if required.

Choose the correct answer from the options given below: