Retiring partner is entitled to his share of goodwill. (State True or False)
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your answer is True
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Answer:
The given statement is true.
Explanation:
A partner retiring from a firm has all the rights to recover or demand for his share in the firm. A partner of the firm has right to recover only that amount, which was a shared amount or shared part of each partner.
The share of goodwill of a partner though depends on the amount of shares he has been getting.
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