On death of a partner, his share in the profits of the firm till the date of this death is transferred to the:

What will be share of deceased partner, whose ratio was \(\frac{1}{4}\), if the turnover in year of death till the date of death was ₹8,00,000 and in previous year was ₹20,00,000? Profit in previous year was ₹ 4,00,000.

Which among the following are the modes of dissolution? (A) Dissolution by nature (B) Compulsory Dissolution (C) Dissolution by Agreement (D) Dissolution by Notice Choose the correct answer from the option given below:

In the absence of any information regarding the acquisition of share in the profit of retiring/deceased partner by the remaining partners, it is assumed that they will acquire his/her share in the:

On 01.04.2022 X and Y decided to dissolve their firm. On the date of dissolution, Goodwill appeared at ₹5,00,000 in the Balance Sheet. Goodwill will be:

Following are the factors affecting goodwill except

If X's share of profit was to be calculated on the basis of Average Profit of the last three years, which were ₹ 1,36,000 for 2018-19, ₹ 1,54,000 for 2019-20 and ₹1,00,000 for 2020-21. X's share of profit for the period from 1st April, 2020 to June 30, 2020 shall be calculated on…

Valuation of Goodwill takes place on which of the following occasions: (A) Incorporation of a new business (B) Change in profit sharing ratio (C) Amalgamation of partnership firms (D) Admission of a partner (E) Dissolution of firm or closure of business Choose the correct answer…

Raman and Naman were in partnership sharing profit and losses in 3:2. Their partnership firm was dissolved on 31st March 2022. On the date of dissolution, Naman's Loan was ₹ 20,000. Naman agreed to take stock (already transferred to realisation A/c) of ₹15,000 at ₹18,000 and bala…