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RP
Question Practice

If a partner has a debit balance in their current account when they retire, what happens to that amount?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 12
Accountancy
Accountancy Part - I
Reconstitution of a Partnershi...
Question Bank

If a partner has a debit balan...

Single Answer MCQ
Q-00082215

If a partner has a debit balance in their current account when they retire, what happens to that amount?

1

It is paid to the partner.

2

It is ignored.

3

It is deducted from their dues.

4

It is transferred to a reserves account.

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Q1.

What are the different ways in which a partner can retire from a firm?

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Explain the treatment of goodwill at the time of retirement or on the event of death of a partner.

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Q3.

How will you compute the amount payable to a deceased partner?

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Q4.

Discuss the various methods of computing the share in profits in the event of death of a partner.

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