CUET Accountancy - When a partner retires in the middle of the year and his share of profit is calculated based on previous years' profit. Which of the following account is to be debited? | PYQs + Solutions

CUET Accountancy 2025 29 May Shift 2

Partnership

Medium

common

Profit and loss appropriation account is debited.

Revaluation account is debited.

Profit and loss suspense account is debited.

Realisation Account is Debited.

✅ Correct Option: 3

Related questions:

4 June Shift 2

In the event of retirement of partner, following deduction has to be made from his/her share.:

13 May Shift 1

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

24 May Shift 1

Ram, Karan and Shyam are partners. On retirement of Ram, the goodwill already appears in the Balance Sheet at Rs. 32,000. The goodwill will be written-off.

CUET Accountancy 2025 29 May Shift 2 PYQs

Keyboard Shortcuts