Gobind, Hari and Pratap are partners. On retirement of Gobind, the goodwill already appears in the Balance Sheet at Rs. 24,000. The goodwill will be written-off -
Held on 27 May 2025 · Verified 13 Jul 2026.
by debiting all partners' capital accounts in their old profit sharing ratio.
by debiting remaining partners' capital accounts in their new profit sharing ratio.
by debiting retiring partners' capital accounts from his share of goodwill
by debiting retiring partners' capital accounts in gaining ratio
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An unrecorded asset is taken over by a creditor in full settlement in such a case
The liability of partners is
As per AS-26 Intangible assets like goodwill should be written off.
Identify the correct statement from the given below :-
By virtue of which section of the Indian Partnership Act 1932, partnership is defined as 'the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all'.
Work through every CUET UG Partnership PYQ, year by year.