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.

When a partner retires or dies, their total dues from the firm consist of several components. The question already lists:

• Credit balance of Capital/Current Account
• Share of goodwill
• Gain on revaluation of assets and liabilities

In addition to these, the retiring partner or legal representatives are entitled to:

Share in accumulated profits (like General Reserve, Reserve Fund, credit balance of Profit & Loss Account) and share in profits earned up to the date of retirement/death.

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Why accumulated profits are included:

These represent undistributed profits from previous years that belong to all partners in their profit-sharing ratio. When a partner exits, their share must be paid to them.

Why profits up to the date of retirement/death are included:

The partner has contributed to earning profits during the current accounting year until their exit date. They are entitled to their proportionate share of these profits, calculated from the beginning of the accounting year till the date of retirement/death.

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Why other options are incorrect:

Option 1 refers to assets of the firm, which are not transferred directly to the retiring partner. Only their monetary share is settled.

Option 3 incorrectly includes money contributed by other partners, which has no relation to the retiring partner's dues.

Option 4 mentions realization profits, which arise only when the firm is dissolved, not during retirement or death when the firm continues.