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    • Question : Upon partner retirement,Goodwill will be credited to the capital account of - Option 1: Remaining partners Option 2: Retiring Partner Opt ...
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    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

    Team Careers360 7th Jan, 2024
    Answer
    Answer (1)
    Team Careers360 25th Jan, 2024

    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.

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