The sum due to the retiring partner in case of retirement and to the legal representatives/ executors in case of death includes:

A. His share of goodwill

B. Credit balance of his current account

C. Salary/commission, if any

D. Provision for doubtful debts

Choose the correct answer from the options given below:

Section 49, of the Indian Partnership Act 1932, deals with

P, Q and R share profits equally. At the time of P's retirement, goodwill appears in the books at Rs. 3000. P will be credited with ___ amount for Goodwill share.

Identify that account to which share of profit of a deceased partner is debited from the date of the last Balance Sheet to the date of his/her death

Which of the following will be shown on the credit side of Deceased Partner A/C?

A. Revaluation Gain Share

B. Goodwill written off

C. Share of profit till date of death

D. Drawings till date of death

E. Interest on capital till date of death

Choose the correct answer from the options given below:

Arrange the following in the correct sequence related to adjustment of partners' capitals in case of retirement of a partner :-

(A) Calculation of cash to be brought in or withdrawn by the continuing partners

(B) Calculation of total capital of new firm

(C) Calculation of new profit sharing ratio

(D) Calculation of new capitals of the existing partners

Choose the correct answer from the options given below:

In the absence of any information regarding the acquisition of share in profit of the deceased partner by the remaining partners, an assumption is made that they will acquire his share in-