Who is liable to compensate for the goodwill in case of retirement of a partner?

Retiring partner

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All partners

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Remaining partners

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None of these

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Solution

The correct option is C
Remaining partners

The remaining partners who gain are liable to compensate to the retiring partner.

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Similar questions

Do the remaining partners need to compensate retiring partner for the goodwill contribution made by him?

Retiring Partner's share of goodwill is debited to remaining partners in their:

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