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mediumMCQCUET Accountancy 2023 29 May Shift 22026Accountancy
1 mark

From the following, identify the items which are payable to a retiring partner, if mentioned in the deed: A. Credit balance of his/her Capital/Current AccountB. Share of goodwillC. Goodwill of the firmD. Share in revaluation gain/lossE. Share in accumulated profits (Reserves) Choose the correct answer from the options given below:

  1. A
    A, B only
  2. B
    A, B, D, E only
  3. C
    B, C, D, E only
  4. D
    A, C, D, E only

Solution & Step-by-step Explanation

A retiring partner is entitled to receive their individual stake in the business components, which includes: A: Credit balance of Capital/Current Account.B: Individual share of goodwill (not the entire goodwill of the firm, which rules out C).D: Individual share in revaluation gain/loss.E: Individual share in accumulated profits/reserves.Therefore, statements A, B, D, and E are payable to the retiring partner.

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From the following, identify the items which are payable to a retiring partner, if mentioned in the deed: A. Credit balance of his/her Capital/Current AccountB. Share of goodwillC. Goodwill of the firmD. Share in revaluation gain/lossE. Share in accumulated profits (Reserves) Choose the correct answer from the options given below:
A
A, B only
B
A, B, D, E only
C
B, C, D, E only
D
A, C, D, E only

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