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

CUET Accountancy 2025 3 June Shift 1

Partnership

Easy

common

Equal Ratio

Old Profit Sharing Ratio

New Profit Sharing Ratio

Future Profit Sharing Ratio

✅ Correct Option: 2

Related questions:

15 May Shift 2

Answer the questions from based on following paragraph

Preeti, Kabir and Shershah are partners in a firm. Kabir retires from the firm. On his date of retirement, Rs 1,00,000 became due to him. Preeti and Shershah promised to pay him in four yearly equal installments plus interest @ 12% p.a. on the unpaid balance every year at the end of the year, to which he agreed.

Net Amount of installment payable at the end of 2nd year to Kabir is

31 May Shift 1

On the death of an existing partner, in case the value of a Liability decreases then which account will be debited?

13 May Shift 2

The sum due to the retiring partner and to the legal representatives/executors (in case of death) includes the following, in addition to credit balance of his capital/current A/c, share of goodwill, gain on revaluation of assets and liabilities.

CUET Accountancy 2025 3 June Shift 1 PYQs

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