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What is the final objective of goodwill settlement on retirement or death?

Answer and explanation

Correct answer: To make fair capital adjustment among partners

Goodwill settlement fairly adjusts old and new rights. In exams treat fairness of capital adjustment as the main objective.

Related tags

AccountancyGoodwill SettlementObjectiveReconstitution Retirement Or Death Of A PartnerClass 12 Mcq

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