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Category Assertion Reason (Retirment)

Assertion Reason (Retirment) 8 Questions

0 Votes 1 Ans

Assertion (A): At the time of retirement of a partner, if the retiring partner is paid more amount than due to him, the difference amount is goodwill paid based on valuation.

1.60K viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12th Assertion Reason (Retirment)Retirement of Partner

0 Votes 1 Ans

Assertion (A): Amount due to the retiring partner is always transferred to his loan account.

1.48K viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12th Assertion Reason (Retirment)Retirement of Partner

0 Votes 1 Ans

Assertion (A): At the time of retirement of a partner, assets are revalued and liabilities are reassessed to ensure that the retiring partner is neither at an advantage nor at loss due to change in values of assets and liabilities.

1.37K viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12th Assertion Reason (Retirment)Retirement of Partner

0 Votes 1 Ans

Assertion (A): At the time of retirement of a partner, the combined profit share of the remaining or continuing partners increases.

1.75K viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12th Assertion Reason (Retirment)Retirement of Partner

0 Votes 1 Ans

Assertion (A): At the time of retirement of a partner, besides the Retiring partner, if a continuing partner also sacrifices his profit share, he along with the retiring partner will get share in firm’s goodwill equal to the profit share sacrificed.

1.36K viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12th Assertion Reason (Retirment)Retirement of Partner

0 Votes 1 Ans

Assertion (A): Retiring partner will not get share in firm’s goodwill on his retirement from the firm.

1.38K viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12th Assertion Reason (Retirment)Retirement of Partner

0 Votes 1 Ans

Assertion (A): Retiring partner will get his share in firm’s gain (profit) on revaluation of assets and reassessment of liabilities and will bear loss on revaluation.

1.42K viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12th Assertion Reason (Retirment)Retirement of Partner

0 Votes 1 Ans

Assertion (A): Retirement of partner means partnership comes to an end and new partnership becomes operative.

996 viewsAnurag Pathak Changed status to publish July 2, 2023Assertion Reason (Retirment)

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