Target Exam

CUET

Subject

Accountancy Part A

Chapter

Reconstitution of Partnership Firm: Retirement and Death

Question:

From the following options, which one should be deducted in ascertaining the amount due to retiring or deceased partner?

Options:

Credit balance of his capital account

His share of goodwill

His share in the gain of revaluation of assets and liabilities

His share of goodwill to be written off

Correct Answer:

His share of goodwill to be written off

Explanation:

The correct answer is Option (4) → 

His share of goodwill to be written off