Question

fully explain the accounting treatment at the time of retirement of a partner​

Answer 1

Answer:

Accounting treatment, in case of death of a partner

The retiring or the deceased partner will not be sharing future profits. Therefore all continuing partners pay to retiring partner the share of Goodwill in gaining ratio. It is fair to compensate the retiring 

or deceased partner for the same.

Explanation:

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Answer 2

Answer:

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