Select the partner(s) who will compensate the deceased partner for the share of goodwill at the time of death.

A, B and C are partners in a firm. On retirement/death of C, his capital account will be credited with:

Choose the correct combination related to death of a partner:

(A) In case of death of a partner his claim is transferred to his executors.

(B) Deceased partner's share of profit may be calculated on the basis of last year's profit or on the basis of sales.

(C) Deceased partner's share of general reserve shall be calculated till the date of his death only.

(D) Deceased partner's claim shall include his interest on capital, interest on drawings (if any) till the date of his death.

Murli, Naveen and Omprakesh are partners sharing profits in the ratio of 3 /8 , 1/2 and 1/8 . Murli retires and surrenders 2/3rd of his share in favour of Naveen and the remaining share in favour of Omprakesh. The gaining ratio of the remaining partners is-

Match List-I with List-II

At the time of retirement following Transactions took place. Chose the correct treatment

Choose the correct answer from the options given below:

If at the time of retirement of a partner, the Balance Sheet of a firm shows accumulated profits in the form of general reserve and/or accumulated losses in the form of profit and loss account debit balance, retiring partner is:

(A) Entitled to His/Her share in the accumulated profits.

(B) Not Entitled to His/Her share in the accumulated profits.

(C) Not liable to share the accumulated losses.

(D) Liable to share the accumulated losses.

Choose the correct answer from the options given below:

Ganesh, Hari and Mahadev are partners. On retirement of Ganesh, the goodwill already appears in the Balance Sheet at Rs. 24,000. The goodwill will be written-off by: