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:

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.

The outgoing partner's account is settled as per the terms of partnership deed. However, in the absence of any agreement, Section 37 of the Indian Partnership Act, 1932 is applicable, which states that the outgoing partner has an option to-

On the Death of a Partner, which account is debited for his/her share of profit for the intervening period, i.e., the period from date of the last balance sheet till the date of the partner's death:

A, B and C are partners in a firm. If B is being retired from the firm, what would be its effect?

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

Asha, Deepa and Lata are partners in a firm sharing profits in the ratio of 5 : 2 : 3. Deepa retires. After making all adjustments relating to revaluation, goodwill and accumulated profit etc., the capital accounts of Asha and Lata showed a credit balance of Rs. 2,60,000 and Rs. 1,00,000 respectively. It was decided to adjust the capitals of Asha and Lata in their new profit sharing ratio. Calculate the amount brought in or withdrawn by Asha.