Ram, Karan and Shyam are partners. On retirement of Ram, the goodwill already appears in the Balance Sheet at Rs. 32,000. The goodwill will be written-off.
Held on 24 May 2025 · Verified 13 Jul 2026.
By debiting the capital accounts of Ram, Karan and Shyam in their old profit sharing ratio
By debiting the capital accounts of Karan and Shyam in their new profit sharing ratio
By debiting the capital account of Ram from his share of goodwill
By debiting the capital accounts of Karan and Shyam in their old profit sharing 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.