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RP
Question Practice

If the retiring partner's amount is settled immediately without any loan, what is the accounting impact?

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 the retiring partner's amou...

Single Answer MCQ
Q-00082301

If the retiring partner's amount is settled immediately without any loan, what is the accounting impact?

1

Increase in Cash/Bank

2

Increase in Retiring Partners' Loan A/c

3

Decrease in Profit & Loss A/c

4

Increase in Gaining Partners' Capital A/c

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Continue with nearby questions to strengthen the same chapter concept while you still have the context fresh in mind.

Q1.

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

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Q2.

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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