The major difference between Retirement and Death of a partner is:

easyMCQCUET Accountancy 2025 22 May Shift 22026Accountancy

1 mark

The major difference between Retirement and Death of a partner is:

A $Retirement normally takes place at the end of an accounting period, and the death of a partner may occur at any time.$
B $Retirement always takes place at the end of the year, whereas Death Always takes Place in beginning of the year$
C $Retirement always takes place in beginning of the year, whereas Death Always takes Place at the end of the year$
D $Retirement normally takes place at the end of an accounting period, and the death of a partner takes place at the beginning of the year.$

Solution & Step-by-step Explanation

Retirement is a planned event and usually occurs at the completion of an accounting period for structural and accounting convenience. On the other hand, death is unforeseen and can occur at any unpredictable day during the financial year.

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The major difference between Retirement and Death of a partner is:

Retirement normally takes place at the end of an accounting period, and the death of a partner may occur at any time.

Retirement always takes place at the end of the year, whereas Death Always takes Place in beginning of the year

Retirement always takes place in beginning of the year, whereas Death Always takes Place at the end of the year

Retirement normally takes place at the end of an accounting period, and the death of a partner takes place at the beginning of the year.

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