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RP
Question Practice

Which adjustment is required for accumulated profits at the time of a partner's retirement?

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

Which adjustment is required f...

Single Answer MCQ
Q-00082160

Which adjustment is required for accumulated profits at the time of a partner's retirement?

1

Increase in partners' capital accounts only

2

Transfer to the retired partner's capital account

3

Credit to the firm's goodwill account

4

Ignore accumulated profits

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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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