Retirement And Death Of A Partner — Practice Quiz
Telangana Open School (TOSS) · Class 12 · Accountancy
Try a 4-question quiz on Retirement And Death Of A Partner for Telangana Open School (TOSS) Class 12 Accountancy: tap an answer to check it and see why.
Interactive on Super Tutor
Studying Retirement And Death Of A Partner? Get the full interactive chapter.
Quizzes, flashcards, AI doubt-solver and a step-by-step study plan — built for practice quiz and more.
Free trial, no card needed.
Quick Quiz: Retirement And Death Of A Partner
0/4Tap an answer to check it instantly. No sign-up needed for these 4.
What happens to the partnership when a partner retires?
Which of the following is NOT a reason for a partner's retirement?
At the time of retirement, how is the retiring partner's claim settled?
What is the new profit sharing ratio when a partner retires and no new ratio is specified?
Sample Questions
Which account is prepared to record changes in asset and liability values at retirement?
Show answer
Revaluation Account
Revaluation Account records gains or losses on revaluation of assets and liabilities at the time of retirement.
Goodwill appears in the books only when:
Show answer
It is purchased for cash
As per AS-10, goodwill is recorded only when purchased for consideration in money.
Where is the retiring partner's share of goodwill credited?
Show answer
Retiring Partner’s Capital Account
The retiring partner’s capital account is credited with their share of goodwill as compensation.
What happens to accumulated reserves at retirement?
Show answer
Distributed in old profit sharing ratio
All reserves and undistributed profits are distributed among all partners including the retiring one in the old ratio.
+46 more questions on Retirement And Death Of A Partner (Telangana Open School (TOSS) Class 12 Accountancy)
Practise AllFrequently Asked Questions
What are the important topics in Retirement And Death Of A Partner for Telangana Open School (TOSS) Class 12 Accountancy?
How many practice questions are there for Retirement And Death Of A Partner?
Sources & Official References
Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.
More resources for Retirement And Death Of A Partner
Important Questions
Exam-style questions with answers
Revision Notes
Key points for last-minute revision
Formula Sheet
The chapter's formulas in one place
Chapter Summary
Understand the chapter at a glance
Concept Maps
See how topics connect
Study Plan
Step-by-step plan for this chapter
Flashcards
Quick-fire cards for active recall
Syllabus
What topics to cover
For serious students
Get the full Retirement And Death Of A Partner chapter — start free.
Quizzes, flashcards, an AI doubt solver and a study plan for Telangana Open School (TOSS) Class 12 Accountancy. Free to start, no card needed.