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On retirement if goodwill account is raised at full value then who will be credited initially?

Answer and explanation

Correct answer: All old partners in old ratio

Full goodwill belongs to the old firm so all old partners are credited in old ratio. Then further adjustment is made separately.

Related tags

Goodwill-SettlementGoodwill-AccountExisting-GoodwillGoodwill SettlementReconstitution Retirement Or Death Of A PartnerAccountancyClass 12 Mcq

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