CUET Accountancy - On retirement, the retiring partner's capital account will be credited with : (A) His/Her Capital Balance (B) His/Her share of goodwill (C) Share of goodwill of remaining partners (D) his/her share of Reserve (E) his/her drawings Choose the correct answer from the options given below : | PYQs + Solutions

CUET Accountancy 2023 28 May Shift 1

Partnership

Easy

(A), (B) and (C) only

(A), (B) and (D) only

(B), (C) and (D) only

(C), (B) and (D) only

✅ Correct Option: 2

Related questions:

13 May Shift 1

Steps involved in accounting treatment at the time of death of a partner -

(A) Preparation of deceased partner's capital account

(B) Ascertainment of new profit sharing ratio and gaining ratio

(D) Settlement by making payment to deceased partner's executor.

Choose the correct answer from the options given below:

4 June Shift 2

Arrange the following steps in correct sequence in case of retirement of a partner:

(A) Adjustment of Capital, if required

(B) Ascertain new profit sharing ratio and gaining ratio

(D) Undertake revaluation of assets and liabilities

Choose the correct answer from the options given below:

3 June Shift 2

On retirement/death of a partner, the retiring/deceased partner's capital account will be credited with:

CUET Accountancy 2023 28 May Shift 1 PYQs