A, B and C are partners in a firm. On re

CUET Preparation Today

Start Free Mocks

Home Questions MU9ZG26WKJ

Target Exam

CUET

Subject

-- Accountancy Part A

Chapter

Reconstitution of Partnership Firm: Retirement and Death

Question:

A, B and C are partners in a firm. On retirement/death of C, his capital account will be credited with:

Options:

His share of goodwill

Share of goodwill of A

Share of goodwill of B

Goodwill of the firm

Correct Answer:

His share of goodwill

Explanation:

The correct answer is Option (1) → His share of goodwill