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

False

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True

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Cannot say

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None of these

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Solution

The correct option is B
True

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

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

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