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On retirement if total goodwill is rupees six lakh and the retiring partner's share is one fifth how much will he receive for goodwill?

Answer and explanation

Correct answer: Rupees 120000

The retiring partner receives his share in total goodwill. One fifth of rupees 600000 is rupees 120000.

Related tags

GoodwillRetirementShare-Of-GoodwillNumericalPartnership Accounts Basic ConceptsAccountancyClass 12 Mcq

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