When goodwill is withdrawn by old partners ________ a/c is credited. (Fill in the blank by choosing correct option)
a) cash/bank
b) capital
c) revaluation
d) Profit and Loss Adjustment
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Your Answer:-
Option B) is the correct option
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Your Answer:-
Option B) is the correct option
May it helps you
Be Brainly
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When goodwill is withdrawn by old partners, cash/bank a/c is credited.
* This follows the rule of "credit what goes out" in case of business.
* Whenever a new partner joins in the business, he brings an amount which is treated as a 'goodwill' and is mostly withdrawn by the existing partners.
* This amount can also be retained for further use in the business.
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