How many Retirement Death questions are available?

ExamTest.live has 106+ Retirement Death questions with detailed explanations, covering easy, medium, and hard difficulty levels.

Are Retirement Death questions free to practice?

Yes, all questions on ExamTest.live are 100% free. No signup required to reveal answers.

Which exams ask Retirement Death questions?

Retirement Death questions appear in Accountancy, CUET Accountancy and other competitive exams.

Home Tests Search Rank Profile

Retirement Death Questions

Practice 106 Retirement Death questions with detailed answers and explanations. Free MCQs, PYQs, and mock test questions for NEET, JEE, GATE, SSC and more.

📚

106

Total Questions

🟢

Easy

🟡

Medium

🔴

Hard

Practice by Exam:Accountancy(90)CUET Accountancy(16)

About Retirement/Death — practice questions, PYQs & concepts

Retirement/Death is a frequently-tested topic on Accountancy, CUET Accountancy. ExamTest.live currently lists 106 Retirement/Death 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/Death weight in competitive exams

Across our Retirement/Death question bank, the largest sources are Accountancy (90) and CUET Accountancy (16). Click any exam chip above to drill down to that exam-specific question set.

How to use this page

Start easy: 43 easy Retirement/Death 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 Death Questions(1–100 of 106)

2 pages

Filter:

Q1easymcqAccountancyCUET Accountancy 2023 28 May Shift 12026

0% accuracy

Upon the retirement of an existing partner from a firm, the retiring partner's Capital Account will be credited with which of the following elements?(A) His/Her Capital Balance(B) His/Her share of premium for goodwill(C) Share of goodwill of remaining partners(D) His/Her share of accumulated reserves(E) His/Her drawingsChoose the correct answer from the options given below:

Q2mediummcqAccountancyCUET Accountancy 2023 28 May Shift 12026

0% accuracy

On the retirement or death of a partner, the remaining partners who gain due to the change in profit-sharing ratio must compensate:

Q3mediummcqAccountancyCUET Accountancy 2023 28 May Shift 12026

0% accuracy

Lisa, Monika and Nisha are partners in a firm sharing profits and losses in the ratio of 2 : 2 : 1 . Their capital accounts stood at Rs. 50, 000, Rs. 50, 000 and Rs. 25, 000 respectively. Monika died and the balance in the general reserve on that date was Rs. 15, 000 . If the goodwill of the firm is valued at Rs. 30, 000 and the profit on revaluation is Rs. 7, 050, what amount will be transferred to Monika's Executors Account?

Q4mediummcqAccountancyCUET Accountancy 2023 28 May Shift 12026

0% accuracy

Identify the correct sequence of steps to be followed when accounting for the retirement of a partner:(A) New Balance Sheet after Retirement(B) Transferring the balance to the Retiring Partner's Loan Account(C) Calculation of the Gaining/Sacrificing Ratio(D) Partners' Capital Account adjustments(E) Preparation of the Revaluation AccountChoose the correct answer from the options given below:

Q5mediummcqAccountancyCUET Accountancy 2023 28 May Shift 12026

0% accuracy

Shweta, Shreya, and Shaniya were partners sharing profits in the ratio of 3 : 2 : 1 . Shaniya retired from the firm. After making all necessary adjustments for accumulated reserves and revaluation gains, her capital balance amounted to Rs. 4, 50, 000 . Shaniya took over 25% of the firm's furniture and accepted a bill of exchange for Rs. 52, 000 . The remaining balance of Rs. 2, 75, 000 was transferred to her loan account. Calculate the total value of the firm's furniture.

Q6easymcqCUET AccountancyCUET 2025 31 May Shift 12026

0% accuracy

At the time of retirement of a partner, undistributed profits appearing in the balance sheet of the old firm is transferred to the capital account of:

Q7mediummcqAccountancyCUET Accountancy 2022 15 July Shift 22026

0% accuracy

A, B and C are partners in a firm sharing profits in the ratio 7 : 4 : 4 . B retires and on the day of his retirement Goodwill existed in the books at 30, 000 . B's Capital A/c will be debited by:

Q8hardmcqCUET AccountancyCUET 2025 31 May Shift 12026

0% accuracy

Mohit, Neeraj and Sohan are partners in a firm sharing profits in the ratio of 2 : 1 : 1 . Neeraj retires and Mohit and Sohan decided that the capital of the new firm will be fixed at Rs. 1, 20, 000 and D is to bring in cash equivalent to \frac{1}{4} th of this amount as his capital. The capital accounts of Mohit and Sohan show a credit balance of Rs. 82, 000 and Rs. 41,000 respectively} after making all the adjustments. Calculate the actual cash to be paid off or to be brought in by the continuing partners in total-

Q9easymcqCUET AccountancyCUET 2025 31 May Shift 12026

0% accuracy

On the death of an existing partner, in case the value of a Liability decreases then which account will be debited?

Q10mediummcqAccountancyCUET Accountancy 2022 15 July Shift 22026

0% accuracy

Ram, Mohan and Roy are partners in the ratio of 8 : 6 : 4 . Ram retires, and Mohan and Roy decided to share profits in the ratio of 10 : 6 . Calculate the gaining ratio.

Q11easymcqAccountancyCUET Accountancy 2022 15 July Shift 22026

0% accuracy

A, B and C are partners sharing profits in the ratio of 2 : 3 : 1 . If B retires, then the new profit sharing ratio between A and C will be:

Q12mediummcqCUET AccountancyCUET 2025 31 May Shift 12026

0% accuracy

Murli, Naveen and Omprakesh are partners sharing profits in the ratio of \frac{3}{8}, \frac{1}{2} and \frac{1}{8} . Murli retires and surrenders \frac{2}{3} rd of his share in favour of Naveen and the remaining share in favour of Omprakesh. The gaining ratio of the remaining partners is-

Q13mediummcqCUET AccountancyCUET 2025 31 May Shift 12026

0% accuracy

Steps involved in various accounting aspects of retirement or death of a partner -(A) Settlement of the amounts due to retired/deceased partner(B) Ascertainment of new profit sharing ratio and gaining ratio(C) Adjustment of capital, if required(D) Revaluation of assets and liabilitiesChoose the correct answer from the options given below:

Q14easymcqAccountancyCUET Accountancy 2025 22 May Shift 22026

The share of loss of a deceased partner, calculated on the basis of previous year's profit/loss, is:

Q15easymcqAccountancyCUET Accountancy 2023 20 June Shift 22026

Select the category of partner(s) who will compensate the deceased partner for their share of goodwill at the time of death.

Q16mediummcqAccountancyCUET Accountancy 2025 24 May Shift 12026

When the deceased partner's share in the estimated loss is calculated for a period from the date of the latest Balance Sheet to the date of death of the partner, then:

Q17easymcqAccountancyCUET Accountancy 2025 24 May Shift 12026

A, B and C are partners in a firm. On retirement/death of C, his capital account will be credited with:

Q18mediummcqAccountancyCUET Accountancy2026

Sindhu, Neha, and Priya are partners sharing profits in the ratio of 5 : 3 : 2 . If Neha retires from the firm, calculate the new profit-sharing ratio and the gaining ratio between Sindhu and Priya, assuming no other modifications are specified.

Q19mediummcqCUET AccountancyCUET Accountancy 2025 13 May Shift 12026

Arrange the sequential accounting processing steps required at the time of the death of a partner in the correct logical order:(A) Preparation of deceased partner's capital account(B) Ascertainment of new profit sharing ratio and gaining ratio(C) Preparation of revaluation account, if required(D) Settlement by making payment to the deceased partner's executorChoose the correct answer from the options given below:

Q20mediummcqAccountancyCUET Accountancy2026

Murli, Naveen and Omprakash are partners sharing profits in the ratio of \frac{3}{8}, \frac{1}{2} and \frac{1}{8} . Murli retires and surrenders \frac{2}{3} rd of his share in favour of Naveen and the remaining share in favour of Omprakash. The gaining ratio of the remaining partners is:

Q21mediummcqAccountancyCUET Accountancy2026

Gobind, Hari and Pratap are partners. On the retirement of Gobind, goodwill already appears in the Balance Sheet at Rs. 24, 000 . This existing goodwill will be written-off by:

Q22mediummcqAccountancyCUET Accountancy 2025 13 May Shift 22026

Naveen, Suresh and Tarun are partners sharing profits and losses in the ratio of 5 : 3 : 2 . Suresh retires from the firm and his share is acquired by Naveen and Tarun in the ratio 2 : 1 . Calculate the new profit sharing ratio between Naveen and Tarun.

Q23easymcqAccountancyCUET Accountancy 2025 29 May Shift 22026

Executor account is prepared on

Q24mediummcqAccountancyCUET Accountancy 2025 29 May Shift 22026

When a partner retires in the middle of the year and his share of profit is calculated based on previous years' profit, which of the following account is to be debited?

Q25mediummcqAccountancyCUET Accountancy 2022 8 Aug Shift 22026

X, Y and Z are partners in the ratio of \frac{1}{2} : \frac{2}{5} : \frac{1}{10} . What will be the new ratio of the remaining partner if X retires?

Q26mediummcqCUET AccountancyCUET Accountancy 2025 15 May Shift 12026

Asha, Deepa and Lata are partners in a firm sharing profits in the ratio of 3 : 2 : 1. Deepa retires. After making all adjustments relating to revaluation, goodwill, Payment to Deepa and accumulated profit etc., the capital accounts of Asha and Lata showed a credit balance of Rs. 1,60,000 and Rs. 80,000 respectively. It was decided to adjust the capitals of Asha and Lata in their new profit sharing ratio. You are required to calculate the new capitals of the partners i.e Asha and Lata.

Q27mediummcqAccountancyCUET Accountancy 2025 30 May Shift 22026

Keshav, Nirmal and Pankaj are partners sharing profits and losses in the ratio of 4 : 3 : 2 . Nirmal retires and the goodwill is valued at Rs. 72,000. Keshav and Pankaj decided to share future profits and losses in the ratio of 5 : 3 . Gaining Ratio of Keshav and Pankaj is:

Q28mediummcqCUET AccountancyCUET Accountancy 2025 15 May Shift 12026

Rana, Sana and Kamana are partners, sharing profits in the ratio 4:3:2. Rana retires; Sana and Kamana decided to share profits in the future in the ratio of 5:3. The Gaining Ratio of Sana and Kamana will be

Q29easymcqAccountancyCUET Accountancy 2025 22 May Shift 22026

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

Q30mediummcqAccountancyCUET Accountancy 2023 11 June Shift 32026

Deepali, Nimisha and Sonam were partners in a firm sharing profits in the ratio of 5 : 3 : 2 . Nimisha retired and the new profit sharing ratio between Deepali and Sonam was 2 : 3 . On Nimisha's retirement, the goodwill of the firm was valued at Rs. 1, 20, 000 . From the above information, calculate share of Deepali's sacrifice or gain:

Q31mediummcqAccountancyCUET Accountancy 2025 24 May Shift 12026

On retirement or death of a partner, the remaining partners who have gained due to change in the profit sharing ratio should compensate the:

Q32mediummcqAccountancyCUET Accountancy 2025 24 May Shift 12026

In case there is no information regarding the acquisition of a share in profit of the retiring/deceased partner by the remaining partners, the assumption is that they will acquire his/her share in the:

Q33easymcqAccountancyCUET Accountancy 2025 24 May Shift 12026

In the absence of any information, it is assumed that the remaining partners acquire the share of profit of the retiring/deceased partner in:

Q34mediummcqCUET AccountancyCUET Accountancy 2025 13 May Shift 12026

The old Profit Sharing ratio among M, N and P is 2 : 2 : 1 . The New profit sharing ratio after N's retirement is set at 3 : 2 . The gaining ratio between M and P will be:

Q35mediummcqAccountancyCUET Accountancy2026

Rohan, Bharti, and Leela are partners. Upon Rohan's retirement, it is noted that goodwill already appears in the balance sheet valued at Rs. 24, 000 . This existing goodwill must be written off by:

Q36mediummcqAccountancyCUET Accountancy 2022 20 Aug Shift 22026

If X's share of profit was to be calculated on the basis of Average Profit of the last three years, which were Rs. 1, 36, 000 for 2018-19, Rs. 1, 54, 000 for 2019-20 and Rs. 1, 00, 000 for 2020-21. X's share of profit for the period from April 01, 2020 to June 30, 2020 shall be calculated on the basis of Average Profit. The profit sharing ratio is 4 : 5 : 1 between X, Y and Z.His share of profit will be:

Q37mediummcqAccountancyCUET Accountancy2026

Arrange the various accounting aspects involved on retirement or death of a partner in logical sequence:(A) Ascertainment of share of profit or loss up to the date of retirement/death(B) Ascertainment of new profit sharing ratio and gaining ratio(C) Distribution of accumulated profits and losses(D) Settlement of the amounts due to retired/deceased partnerChoose the correct answer from the options given below:

Q38easymcqCUET AccountancyCUET Accountancy 2025 13 May Shift 12026

In the absence of any structural information regarding how the remaining partners acquire the share of a retiring or deceased partner, it is assumed that they will acquire it in their:

Q39easymcqAccountancyCUET Accountancy 2025 29 May Shift 22026

On the retirement of an existing partner, an increase in the value of a liability will be credited to :-

Q40mediummcqAccountancyCUET Accountancy 2025 29 May Shift 22026

Match List-I with List-IIList-I (Name of ratios)List-II (used for)(A) old ratio(I) distribution of premium for goodwill(B) new ratio(II) for adjustment of goodwill in death of partner(C) sacrificing ratio(III) sharing revaluation profits(D) gaining ratio(IV) sharing future profitsChoose the correct answer from the options given below:

Q41easymcqAccountancyCUET Accountancy 2025 29 May Shift 22026

At the time of death of a partner, undistributed Losses appearing in the balance sheet of the old firm is transferred to the capital account of:

Q42easymcqAccountancyCUET Accountancy 2025 13 May Shift 22026

P, Q and R share profits equally. At the time of P's retirement, goodwill appears in the books at Rs. 3000 . P will be debited with what amount for his share of existing Goodwill?

Q43mediummcqAccountancyCUET Accountancy 2022 30 Aug Shift 22026

Rani, Sandhya and Kangana are partners sharing profits in the ratio of 4 : 3 : 2 . Rani retires. Sandhya and Kangana decided to share profits in future in the ratio of 5 : 3 . Gaining ratio of Sandhya and Kangana will be

Q44mediummcqCUET AccountancyCUET Accountancy 2025 15 May Shift 12026

Various accounting aspects involved on death of a partner are as follows:(A) Adjustment in respect of unrecorded assets and liabilities(B) Treatment of goodwill(C) Preparation of Realization A/c(D) Preparation of Executor's loan A/cChoose the correct answer from the options given below:

Q45easymcqCUET AccountancyCUET Accountancy 2025 15 May Shift 12026

The sum due to the retiring partner includes :(A) His share of profits up to the date of retirement.(B) His share of goodwill;(C) His share of accumulated profits ;(D) His share in the gain of revaluation of assets and liabilities;Choose the correct answer from the options given below:

Q46mediummcqAccountancyCUET Accountancy 2025 3 June Shift 12026

In the case of a re-constitution of a partnership firm, if the value of decrease in investment exceeds the Investment Fluctuation Fund, the :-

Q47mediummcqAccountancyCUET Accountancy 2025 3 June Shift 12026

Naveen, Suresh and Tarun are partners, sharing profits and losses in the ratio of 5 : 3 : 2 . Suresh retires from the firm and his share was acquired by Naveen and Tarun in the ratio of 2 : 1 . Calculate the new share of profit :

Q48easymcqAccountancyCUET Accountancy 2022 8 Aug Shift 22026

In case of retirement or death of a partner, all accumulated profit and losses are transferred in capital account of partners in the:

Q49mediummcqAccountancyCUET Accountancy 2023 29 May Shift 22026

Which of the following will be shown on the credit side of Deceased Partner A/C?A. Revaluation Gain ShareB. Goodwill written offC. Share of profit till date of deathD. Drawings till date of deathE. Interest on capital till date of death Choose the correct answer from the options given below:

Q50easymcqAccountancyCUET Accountancy2026

L, N and T are partners sharing profits in the ratio of 5 : 3 : 2 . If N retires, what would be the gaining ratio of L & T?

Q51easymcqAccountancyCUET Accountancy2026

The dues of Kabir are to be paid in 4 yearly installments. The principal amount of each installment will be:

Q52hardmcqAccountancyCUET Accountancy 2023 29 May Shift 22026

A, B, and C are partners with an equal profit sharing ratio (1 : 1 : 1). Their fixed capitals are Rs. 30, 000, Rs. 25, 000 and Rs. 30, 000 respectively. C decides to retire. A and B decide to continue the partnership firm and change their new profit sharing ratio into their respective Capital Ratio. What is the gaining ratio of A and B ?

Q53mediummcqAccountancyCUET Accountancy2026

The amount of interest payable to Kabir at the end of the fourth year will be:

Q54mediummcqAccountancyCUET Accountancy2026

The net total amount (Principal + Interest) payable to Kabir at the end of the 2nd year is:

Q55easymcqAccountancyCUET Accountancy 2022 23 Aug Shift 2 PYQs2026

A, B and C are partner's sharing profits and losses in the ratio of \frac{3}{8} : \frac{1}{2} : \frac{1}{8} .If A dies, then the new ratio of B and C will be :

Q56easymcqAccountancyCUET Accountancy 2022 20 July Shift 12026

A, B and C were partners sharing profits and losses in the ratio of 3 : 2 : 1 . C died on 1st August, 2022 and his share of profit from the beginning of the accounting year upto the date of death amounted to Rs. 70,000. C's share of profit will be debited to:

Q57mediummcqAccountancyCUET Accountancy 2023 29 May Shift 22026

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:

Q58easymcqAccountancyCUET Accountancy2026

What is the gaining ratio between the remaining partners, Preeti and Shershah, upon Kabir's retirement?

Q59easymcqAccountancyCUET Accountancy 2025 22 May Shift 12026

At the time of retirement of a partner, undistributed profits appearing in the balance sheet of the old firm is transferred to the capital account of:

Q60mediummcqAccountancyCUET Accountancy 2023 11 June Shift 32026

Deepali, Nimisha and Sonam were partners in a firm sharing profits in the ratio of 5 : 3 : 2 . Nimisha retired and the new profit sharing ratio between Deepali and Sonam was 2 : 3 . On Nimisha's retirement, the goodwill of the firm was valued at Rs. 1, 20, 000 . From the information provided in the case study, calculate Sonam's sacrifice or gain:

Q61mediummcqAccountancyCUET Accountancy 2025 22 May Shift 22026

Match List-I with List-II:At the time of retirement, the following transactions took place. Choose the correct treatment.List-I (Particulars)List-II (Treatment)(A) Asset taken over by the partner(I) Debit side of Revaluation A/C(B) Increase in Assets(II) Written off amongst old partners in old ratio(C) Unrecorded Liability(III) Debit side of Partners Capital A/C(D) Goodwill Appearing in books(IV) Credit side of Revaluation A/CChoose the correct answer from the options given below:

Q62mediummcqAccountancyCUET Accountancy 2022 20 July Shift 12026

On the death of a partner, his share in the loss of the firm till the date of his death is transferred to:

Q63mediummcqAccountancyCUET Accountancy 2025 22 May Shift 22026

Naveen, Suresh and Tarun are partners sharing profits and losses in the ratio of 5 : 3 : 2 . Tarun retires from the firm and his share was taken over by Naveen and Suresh in the ratio 2 : 1 . In such a case, the new profit sharing ratio will be:

Q64mediummcqAccountancyCUET Accountancy 2023 11 June Shift 32026

Deepali, Nimisha and Sonam were partners in a firm sharing profits in the ratio of 5 : 3 : 2 . Nimisha retired and the new profit sharing ratio between Deepali and Sonam was 2 : 3 . On Nimisha's retirement, the goodwill of the firm was valued at Rs. 1, 20, 000 . If information provided in the case study is used, the sacrifice or gain of Sonam share of goodwill will be:

Q65easymcqAccountancyCUET Accountancy 2022 20 Aug Shift 22026

In the absence of any information regarding the acquisition of share in the profit of retiring/deceased partner by the remaining partners, it is assumed that they will acquire his/her share in the:

Q66mediummcqAccountancyCUET Accountancy 2025 24 May Shift 12026

A, B and C are partners sharing profits in the ratio of 3 : 2 : 1 . A retires and his share is taken up by B and C in the ratio of 3 : 2 . Calculate the new profit sharing ratio.

Q67mediummcqAccountancyCUET Accountancy 2023 20 June Shift 22026

A, B, and C were partners in a firm with a profit-sharing ratio of 5 : 3 : 2 . B retires and the new profit-sharing ratio between A and C is settled at 3 : 2 . Calculate the gaining ratio of the remaining partners.

Q68easymcqAccountancyCUET Accountancy 2025 24 May Shift 12026

Ram, Karan and Shyam are partners. On retirement of Ram, the goodwill already appears in the Balance Sheet at Rs. 32, 000 . This existing goodwill will be written-off:

Q69easymcqCUET AccountancyCUET Accountancy 2025 16 May Shift 12026

If nothing is specifically mentioned in the partnership deed, the amount due to a retiring partner is transferred to which of the following accounts?

Q70mediummcqAccountancyCUET Accountancy2026

R, S, and K are partners sharing profits in the ratio of 4 : 3 : 2 . R retires, and S and K decide to share future profits in the ratio of 5 : 3 . Calculate their gaining ratio.

Q71mediummcqCUET AccountancyCUET Accountancy 2025 13 May Shift 12026

On the Death of a Partner, which account is debited for his/her share of profit for the intervening period, i.e., the period from the date of the last balance sheet till the date of the partner's death:

Q72mediummcqAccountancyCUET Accountancy 2022 30 Aug Shift 22026

If a partner retires in the middle of the year his/her share of profit from the date of last balance sheet till the date of retirement will be transferred to : ____

Q73easymcqAccountancyCUET Accountancy 2023 29 May Shift 22026

On R's retirement, the amount payable to him after all adjustments works out to be Rs. 60, 000 but the remaining partners P and Q agreed to pay him Rs. 75, 000 in full settlement of his claim. Identify the term which represents the Rs. 15, 000 extra that is paid to R .

Q74mediummcqCUET AccountancyCUET Accountancy 2025 16 May Shift 12026

Match List-I with List-II:List-IList-II(A) Accumulated Profits/Losses(I) New Ratio(B) Share of goodwill at the time of admission of a partner(II) Gaining Ratio(C) Division of profits after admission of a partner(III) Old Ratio(D) Share of goodwill at the time of retirement/death of a partner(IV) Sacrificing RatioChoose the correct answer from the options given below:

Q75mediummcqAccountancyCUET Accountancy2026

Lalit, Pankaj and Rahul are partners sharing profits in the ratio of 4 : 3 : 3 . After all adjustments on Lalit's retirement with respect to general reserve, goodwill, and revaluation etc., the balances in their capital accounts stood at Rs. 70, 000, Rs. 60, 000 and Rs. 50, 000 respectively. It was decided that the amount payable to Lalit will be brought by Pankaj and Rahul in such a way as to make their capitals proportionate to their new profit sharing ratio. After Lalit's retirement, the new profit sharing ratio between Pankaj and Rahul is 1 : 1 . The new capital of the firm will be:

Q76mediummcqCUET AccountancyCUET Accountancy 2025 13 May Shift 12026

On the retirement or death of a partner, the remaining partners who have gained due to the change in profit-sharing ratio should compensate:

Q77easymcqAccountancyCUET Accountancy2026

Gaining share of Continuing Partner =

Q78easymcqAccountancyCUET Accountancy 2025 29 May Shift 22026

In the case of retirement of a partner, the item to be deducted from partner's capital account is:

Q79easymcqAccountancyCUET Accountancy 2025 13 May Shift 22026

The total sum due to a retiring partner or to the legal executors (in case of death) includes which of the following, along with their capital account balance, share of goodwill, and revaluation profit?

Q80mediummcqAccountancyCUET Accountancy 2022 20 Aug Shift 22026

What will be the share of deceased partner, whose ratio was \frac{1}{4}, if the turnover in year of death till the date of death was Rs. 8, 00, 000 and in previous year was Rs. 20, 00, 000 ? Profit in previous year was Rs. 4, 00, 000 .

Q81easymcqAccountancyCUET Accountancy 2025 22 May Shift 12026

In the event of the death of a partner, the ratio in which the continuing partners acquire the share from the deceased partner is called .......

Q82mediummcqAccountancyCUET Accountancy 2025 29 May Shift 22026

A, B, and C were in partnership, sharing profits in the ratio of 3 : 2 : 1 respectively. B retires and the new profit sharing ratio between A and C is 3 : 2 . The gaining ratio is:

Q83easymcqAccountancyCUET Accountancy 2025 13 May Shift 22026

Match List-I with List-II:List-IList-II(A) Gaining Ratio(I) An advantage of good name, reputation and wide business connections.(B) New Profit Sharing Ratio(II) The ratio in which the continuing partners have acquired the share from the retiring/deceased partner.(C) Sacrificing Ratio(III) The ratio in which the remaining partners will share future profits after the retirement or death of any partner.(D) Goodwill(IV) The ratio in which the old partners agree to sacrifice their share of profit in favour of the incoming partner.Choose the correct answer from the options given below:

Q84mediummcqAccountancyCUET Accountancy 2025 29 May Shift 22026

Various accounting aspects involved on retirement or death of a partner are as follows(A) Adjustment in respect of unrecorded assets and liabilities(B) Treatment of goodwill(C) Preparation of Realization A/c(D) Preparation of Executor's A/cChoose the correct answer from the options given below:

Q85easymcqAccountancyCUET Accountancy 2022 20 July Shift 12026

At the time of retirement of a Partner if retiring Partner's whole amount is treated as loan, then the total amount is Debited in:

Q86mediummcqAccountancyCUET Accountancy 2023 29 May Shift 22026

Identify that account to which share of profit of a deceased partner is debited from the date of the last Balance Sheet to the date of his/her death (assuming no change in profit sharing ratio of remaining partners).

Q87mediummcqAccountancyCUET Accountancy 2025 22 May Shift 12026

R, S and K are partners sharing profits in the ratio 8 : 6 : 4 . On the retirement of R, the new profit sharing ratio between S and K was decided to be 5 : 3 . The Gaining ratio is:

Q88easymcqAccountancyCUET Accountancy 2022 30 Aug Shift 22026

Journal entry to be passed for unrecorded assets for preparing Revaluation A/C at the time of Retirement of a partner will be ____

Q89easymcqAccountancyCUET Accountancy 2025 22 May Shift 12026

In the event of retirement of a partner, which of the following deductions has to be made from his/her share?

Q90mediummcqAccountancyCUET Accountancy 2023 11 June Shift 32026

Deepali, Nimisha and Sonam were partners in a firm sharing profits in the ratio of 5 : 3 : 2 . Nimisha retired and the new profit sharing ratio between Deepali and Sonam was 2 : 3 . On Nimisha's retirement, the goodwill of the firm was valued at Rs. 1, 20, 000 . Using the information given in the case study, calculate Deepali's amount of sacrifice or gain in Goodwill.

Q91easymcqAccountancyCUET Accountancy 2025 22 May Shift 12026

G, H and P are partners. On retirement of G, the goodwill already appears in the Balance Sheet at Rs. 24, 000 . The goodwill will be written-off:

Q92mediummcqAccountancyCUET Accountancy 2025 3 June Shift 12026

Steps involved in accounting treatment at the time of death/retirement of a partner -(A) Adjustment of capital, if required(B) Preparation of revaluation account, if required(C) Ascertainment of new profit sharing ratio and gaining ratio(D) Settlement of the amounts due to retired / deceased partnerChoose the correct answer from the options given below:

Q93easymcqAccountancyCUET Accountancy 2025 22 May Shift 12026

In the absence of any information regarding the acquisition of share in profits of the retiring/deceased partner by the remaining partners, it is assumed that they will acquire his/her share in ________.

Q94mediummcqAccountancyCUET Accountancy2026

If at the time of Kabir's retirement, his individual share of goodwill is valued at Rs. 15,000, and assuming partners share profits equally (1 : 1 : 1) unless specified otherwise, what will be the total valuation of the firm's goodwill?

Q95easymcqAccountancyCUET Accountancy 2022 30 Aug Shift 22026

On retirement of a partner, the retiring partner's capital account will be credited with _____

Q96mediummcqAccountancyCUET Accountancy 2022 30 Aug Shift 22026

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

Q97mediummcqAccountancyCUET Accountancy 2022 23 Aug Shift 2 PYQs2026

Which of the following statement is true ?

Q98mediummcqAccountancyCUET Accountancy 2022 20 July Shift 12026

Monu, Sonu and Golu are partners in a firm sharing profits in the ratio of 2 : 2 : 1 . Golu died on 5th November 2021. Under the partnership deed, the executors of the deceased partner are entitled to his share of profit to the date of death, calculated on the basis of last year's profit. Profit for the year ended 31st March 2022 was Rs. 3,00,000. (Assuming this means profit for the previous year or estimated profit basis). Golu's share of profit will be:

Q99easymcqAccountancyCUET Accountancy 2023 11 June Shift 32026

Deepali, Nimisha and Sonam were partners in a firm sharing profits in the ratio of 5 : 3 : 2 . Nimisha retired and the new profit sharing ratio between Deepali and Sonam was 2 : 3 . On Nimisha's retirement, the goodwill of the firm was valued at Rs. 1, 20, 000 . Using the information given in above case study, Nimisha's sacrifice of goodwill will be:

Q100mediummcqAccountancyCUET Accountancy 2025 22 May Shift 12026

K, N and P are partners sharing profits and losses in the ratio of 4 : 3 : 2 . N retires and the goodwill is valued at Rs. 72, 000 . K and P decided to share future profits and losses in the ratio of 5 : 3 . Find which of the following statements is not correct?

1 2

Frequently Asked Questions

How many Retirement Death questions are on ExamTest.live?▼

We have 106 Retirement Death questions spread across 2 pages, covering easy, medium, and hard difficulty levels with detailed explanations.

Are Retirement Death MCQs free?▼

Yes. All Retirement Death questions, answers, and explanations on ExamTest.live are completely free. No account or subscription required.

Which exams include Retirement Death questions?▼

Retirement Death questions are commonly asked in Accountancy, CUET Accountancy. You can filter by exam using the links above.

How do I practice Retirement Death 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.