Arrange the various accounting aspects involved on retirement or death of a partner-
(A) Ascertainment of share of profit or loss up to the date of retirement/death
(B) Ascertainment of new profit sharing ratio and gaining ratio
(C) Distribution of accumulated profits and losses
(D) Settlement of the amounts due to retired/deceased partner
Choose the correct answer from the options given below:
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → (B), (C), (A), (D)
Of the accounting aspects on retirement or death of a partner, these four come in this order:
(B) Ascertainment of new profit sharing ratio and gaining ratio
(C) Distribution of accumulated profits and losses
(A) Ascertainment of share of profit or loss up to the date of retirement/death
(D) Settlement of the amounts due to retired/deceased partner
NCERT (2026-27 edition):
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