Use app×
Join Bloom Tuition
One on One Online Tuition
JEE MAIN 2025 Foundation Course
NEET 2025 Foundation Course
CLASS 12 FOUNDATION COURSE
CLASS 10 FOUNDATION COURSE
CLASS 9 FOUNDATION COURSE
CLASS 8 FOUNDATION COURSE
0 votes
400 views
in Accounts by (64.7k points)

1. The net amount due to retiring partner will be paid as per the terms of the agreement between the partners. 

2. On retirement of a partner, when due amount to retiring partner is transferred to loan loan account then retiring partner's loan A/c will be credited. 

3. With mutual agreement, the amount due to the outgoing partner may be transferred to a loan account to be paid in instalments.

1 Answer

+1 vote
by (58.3k points)
selected by
 
Best answer

1.True, 

2. True, 

3.True

Welcome to Sarthaks eConnect: A unique platform where students can interact with teachers/experts/students to get solutions to their queries. Students (upto class 10+2) preparing for All Government Exams, CBSE Board Exam, ICSE Board Exam, State Board Exam, JEE (Mains+Advance) and NEET can ask questions from any subject and get quick answers by subject teachers/ experts/mentors/students.

Categories

...