Question : Upon partner retirement,Goodwill will be credited to the capital account of -
Option 1: Remaining partners
Option 2: Retiring Partner
Option 3: All partners
Option 4: None of the above
Correct Answer: Retiring Partner
Solution : The retiring partner's capital account will be credited with his or her share of the goodwill upon retirement.
Hence the correct answer is option 2.
Question :
Which of the following statement is correct?
Question : Premium for goodwill brought by newly admitted partner should be:
Question : If at the time of admission if there is some unrecorded Assets, it will be _________ to _______ Account.
Question : If goodwill is withdrawn which account will be credited
Question : Name two items which are credited to the Capital Account of a partner upon his death.
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