At the time of retirement, the partner's capital account is credited on the transfer of goodwill amount to their capital account.

old

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remaining

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retiring

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gaining

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Solution

The correct option is C retiring
At the time of retirement, only retiring partner's capital account is credited on treatment of goodwill.

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On retirement, the capital account of the retiring partner shall be credited with ……….

Retiring partner’s share of goodwill is credited to his/her capital account at the time of retirement. State true of false.

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