The sum due to the retiring partner in case of retirement and to the legal representatives/ executors in case of death includes:

A. His share of goodwill

B. Credit balance of his current account

C. Salary/commission, if any

D. Provision for doubtful debts

Choose the correct answer from the options given below:

A, B and C only

Correct answer: Option (4) → A, B and C only

Concept: The sum due to a retiring/deceased partner includes his capital, share of goodwill, reserves and profits, revaluation gain, salary/commission due and the credit balance of his current account – per Reconstitution of a Partnership Firm – Retirement/Death of a Partner.

So it includes A (share of goodwill), B (credit balance of current account) and C (salary/commission, if any). Provision for doubtful debts (D) is only an adjustment against debtors during revaluation – it is not an amount payable to the partner. Hence A, B and C only.