Question

The retiring partner becomes entitled to get back his

dues from the firm that consist of: (i) the balance of his capital and current account at the time of retirement (ii) the share of goodwill, undistributed profit or loss, reserves and profit or loss on revaluation of assets and liabilities (iii) the salary, commission, interest on capital, if any and all other dues till the date of retirement (iv) any adjustment in drawings and interest thereon

A (i), (ii), (iii) and (iv)

B Only (i) and (ii)

C Only (i), (ii) and (iv)

D Only (i), (iii) and (iv)

Practice Next

More Accounts Questions

What is the primary nitrogenous waste product excreted by humans?
What is an excretory organ of the cockroach?
In the names Mangifera indica (mango), Solanum tuberosum (potato), and Panthera leo (lion), what do the names indica, tuberosum, and leo represent?
Who is regarded as the founder of binomial nomenclature of plants and animals?
Which of the following is the smallest known flowering plant?
Which of the following is a primary symptom of diabetes mellitus?
Which vitamin enhances iron absorption in the body?
Which disease is characterized by a loss of bone density?
Gastric glands are present in the ______.
Vinegar contains which of the following acids?

The retiring partner becomes entitled to get back his

Solution