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Retirement Questions

Practice 13 Retirement questions with detailed answers and explanations. Free MCQs, PYQs, and mock test questions for NEET, JEE, GATE, SSC and more.

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13
Total Questions
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5
Easy
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8
Medium
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Hard
Practice by Exam:Accountancy(10)CUET Accountancy(3)

About Retirement — practice questions, PYQs & concepts

Retirement is a frequently-tested topic on Accountancy, CUET Accountancy. ExamTest.live currently lists 13 Retirement questions spanning previous-year papers from 2026 to 2026, each with worked solutions and a step-by-step explanation. Use the filters on this page to focus on a specific exam, difficulty level or year — every answer key is free, no sign-up required.

Retirement weight in competitive exams

Across our Retirement question bank, the largest sources are Accountancy (10) and CUET Accountancy (3). Click any exam chip above to drill down to that exam-specific question set.

How to use this page

  • Start easy: 5 easy Retirement questions are available — build fluency before moving up.
  • Target weak years: Use the year filter to focus on the most recent 2026 paper or older PYQs you have not attempted.
  • Time yourself: Every question shows the average solve time so you can benchmark your speed against other students.
  • Read every explanation: Even on questions you got right — the explanation often surfaces a faster approach you can reuse.

All Retirement Questions(1–13 of 13)

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Q1easymcqCUET AccountancyCUET Accountancy 16 July Shift 22026
Anand, Bahadur, and Chander are partners sharing profits equally ( each). On Chander's retirement, his entire share is acquired by Anand alone. The gaining percentage of Anand will be:
Q2mediummcqCUET AccountancyCUET Accountancy 16 July Shift 22026
Amit, Dinesh, and Gagan are partners sharing profits in the ratio of . Dinesh retires. Amit and Gagan decide to share the profits of the new firm in the ratio of . The gaining ratio between Amit and Gagan will be:
Q3mediummcqAccountancyCUET Accountancy 2025 14 May Shift 22026
Hanny, Pammy, and Sunny are partners sharing profits in the ratio of . Goodwill is appearing in the books at a value of . Pammy retires and at the time of Pammy's retirement, goodwill is valued at . Hanny and Sunny decided to share future profits in the ratio of . Pammy's share of the current value of goodwill is:
Q4mediummcqAccountancyCUET Accountancy 2025 14 May Shift 22026
Kumar, Lakshya, Manoj, and Naresh are partners sharing profits in the ratio of . Kumar retires and his share is acquired by Lakshya and Manoj in the ratio of . The gaining ratio of the remaining partners (Lakshya, Manoj, and Naresh) is:
Q5mediummcqAccountancyCUET Accountancy 2025 14 May Shift 22026
Arrange the following accounting procedures involved in handling the retirement or death of a partner in the correct logical sequence:(A) Settlement of the amounts due to the retired/deceased partner(B) Ascertainment of the new profit-sharing ratio and gaining ratio(C) Adjustment of capitals, if required(D) Revaluation of assets and liabilitiesChoose the correct answer from the options given below:
Q6mediummcqAccountancyCUET Accountancy 2025 27 May Shift 22026
K, N and P are partners sharing profits and losses in the ratio of . N retires and the goodwill is valued at Rs. . K and P decided to share future profits and losses in the ratio of . Identify the correct journal entry in this scenario.
Q7mediummcqAccountancyCUET Accountancy 2025 27 May Shift 22026
In case a deceased partner's share of profit is calculated during the intervening period, the following Journal Entry will be passed:
Q8easymcqAccountancyCUET Accountancy 2025 27 May Shift 22026
A, B and C are partners in a firm. If C retires/dies, his capital account is credited with:
Q9easymcqAccountancyCUET Accountancy 2025 27 May Shift 22026
The ratio in which the continuing partners have acquired the share from the retiring/deceased partner is called:
Q10mediummcqAccountancyCUET Accountancy 2025 30 May Shift 12026
Ranjana, Sadhna and Kamana are partners, sharing profits in the ratio . Ranjana retires; Sadhna and Kamana decide to share profits in the future at the ratio of . Calculate the Gaining Ratio:
Q11easymcqAccountancyCUET Accountancy 2025 30 May Shift 12026
A, B and C are partners in a firm. If B is being retired from the firm, what would be its effect?
Q12easymcqAccountancyCUET Accountancy 2025 30 May Shift 12026
In the absence of any information regarding the acquisition of share in profit of the retiring/deceased partner by the remaining partners, it is assumed that they will acquire his/her share in:
Q13mediummcqCUET AccountancyCUET Accountancy 2025 2 June Shift 22026
Naveen, Suresh, and Tarun are partners sharing profits and losses in the ratio of . Tarun retires from the firm, and his share is taken over by Naveen and Suresh in the ratio of . Calculate the new profit-sharing ratio.

Frequently Asked Questions

How many Retirement questions are on ExamTest.live?▼
We have 13 Retirement questions spread across 1 pages, covering easy, medium, and hard difficulty levels with detailed explanations.
Are Retirement MCQs free?▼
Yes. All Retirement questions, answers, and explanations on ExamTest.live are completely free. No account or subscription required.
Which exams include Retirement questions?▼
Retirement questions are commonly asked in Accountancy, CUET Accountancy. You can filter by exam using the links above.
How do I practice Retirement questions effectively?▼
Start with easy questions to build confidence, then tackle medium and hard ones. Use the filter buttons to sort by difficulty. Reveal the answer only after attempting each question, and read the explanation thoroughly.