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mediumMCQCUET Accountancy 2022 30 Aug Shift 22026Accountancy
1 mark

At the time of retirement of a Partner the remaining gaining partners should compensate the ______

  1. A
    Remaining Partners only
  2. B
    Retiring Partners only
  3. C
    Retiring Partners as well as remaining partners who have sacrificed
  4. D
    Sacrificing partners only

Solution & Step-by-step Explanation

Gaining partners must compensate the retiring partner for their share of goodwill, as well as any remaining partners who might have sacrificed a portion of their profit share due to the change in ratio.

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At the time of retirement of a Partner the remaining gaining partners should compensate the ______
A
Remaining Partners only
B
Retiring Partners only
C
Retiring Partners as well as remaining partners who have sacrificed
D
Sacrificing partners only

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PartnershipRetirement/Death

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