There is a practical need for the valuation of a firm's goodwill under which of the following cases?(A) Admission of a new partner(B) Retirement of an existing partner(C) Dissolution of a firm involving the sale of the business as a going concern(D) Amalgamation of partnership firmsChoose the correct answer from the options given below:

Valuation of goodwill becomes necessary whenever the existing profit-sharing dynamics alter or when the business identity transfers to new owners. This includes:Admission of a partner (to determine premium for goodwill brought by the incoming partner)Retirement/Death of a partner (to determine compensation paid to the outgoing partner)Dissolution involving the sale of a business as a going concern (to settle full commercial market acquisition value)Amalgamation of firms (to establish relative value exchanges between combining entities)Thus, all listed scenarios require goodwill valuation.