Partnership

Retirement/Death

Easy

common

What is not included in the sum due to the retiring partner?

Share of Goodwill

Credit balance of his current account

Share of accumulated profits (reserves)

Share of remaining partners in profits

✅ Correct Option: 4

The retiring partner is entitled to his capital and current account balance, his share of goodwill, accumulated profits and reserves, and his share of revaluation gain and profit till retirement. The remaining partners' share of profits belongs to them, not to him.

2025: 24 May Shift 1

In the absence of any information, it is assumed that the remaining partners acquire the share of profit of the retiring/deceased partner in:

2022: 23 Aug Shift 2

Which of the following statement is true ?

2023: 11 June Shift 3

Using the information given in the case study, calculate Deepali's amount of sacrifice or gain in Goodwill.

2025: 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:

2025: 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?

2022: 15 July Shift 2

A, B and C are partners sharing profits in the ratio of 2:3:1. B retries, then new profit sharing ratio between A and C will be

What is not included in the sum due to the retiring partner?

Solution

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