On retirement, the retiring partner's capital account will be credited with :
(A) His/Her Capital Balance
(B) His/Her share of goodwill
(C) Share of goodwill of remaining partners
(D) his/her share of Reserve
(E) his/her drawings
Choose the correct answer from the options given below:
(
This question was previously asked in
Shift 28/05/2023 3:30 PM - 6:30 PM
A
(A), (B) and (C) only
B
(A), (B) and (D) only
C
(B), (C) and (D) only
D
(C), (B) and (D) only
Correct Answer
(A), (B) and (D) only
Detailed Explanation
Drawings of retiring partner are debited to his account and share of goodwill of only retiring partner is credited to his account which is contributed by Gaining partners
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