List of top Accountancy Questions on Retirement

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:

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 -

On retirement, the retiring partner’s capital account will be credited with:
(A) His/Her Capital Balance
(B) His/Her share of goodwill
(C) Share of goodwill of remaining partners
(D) his/her share of Reserve
(E) his/her drawings
Choose the correct answer from the options given below :

Identify the correct sequence to be followed at the time of Retirement of a Partner :
(A) New Balance Sheet after Retirement
(B) Transferring balance to Retiring partner’s Loan Account
(C) Calculation Gaining/Sacrificing Ratio
(D) Partners’ Capital Account
(E) Preparation of Revaluation Account
Choose the correct answer from the options given below :