When the amount due to retiring partner is paid by cheque, account is credited.

loan

No worries! We‘ve got your back. Try BYJU‘S free classes today!

bank

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

capital

No worries! We‘ve got your back. Try BYJU‘S free classes today!

reserve

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is B bank
When an amount due is paid by cheque or electronic transfer to the retiring partner, then the bank account of the firm is credited and retiring patner's capital account is debited

Suggest Corrections

Similar questions

When the amount due to retiring partner is paid by cheque, which account is credited?

Retiring partner`s capital account is ___ when the sum due to him is paid.

The amount due to the retiring partner is paid according to ___

Join BYJU'S Learning Program