Question

The sum due to the retiring partner includes: (A) His share of profits up to the date of retirement.
(B) His share of goodwill.
(C) His share of accumulated profits.
(D) His share in the gain of revaluation of assets and liabilities.
Choose the correct answer from the options given below:

• A. (A), (B) and (D) only
• B. (A), (B) and (C) only
• C. (A), (B), (C) and (D)
• D. (B), (C) and (D) only

Hint:

Always include goodwill, accumulated profits, current profits, and revaluation adjustments while settling a retiring partner's account.

Answer 1

The Correct Option is C

Step 1: Identify retiring partner's rights.
At retirement, a partner is entitled to: - Share of profits till date of retirement. - Share of goodwill. - Share of accumulated profits and reserves. - Share of gain/loss on revaluation of assets and liabilities.

Step 2: Analyze given options.
(A) Included.
(B) Included.
(C) Included.
(D) Included.

Step 3: Conclusion.
All four components form the sum due to a retiring partner.

Final Answer: \[ \boxed{\text{(A), (B), (C) and (D)}} \]