Question 27 of 35
Q.If the final amount due to a retiring partner is not paid immediately, it is transferred to :
(a) Retiring Partner's Loan A/c
(b) Bank A/c
(c) Other Partner's Capital A/c
(d) Retiring Partner's Capital A/c
Puducherry TnboardTamil Nadu HSC (DGE) Commerce Board 2025MCQ· 1mImportance★★★★★
77% · 27/35 Questions
You're viewing a preview — the full solution, concept, methods & PYQ mapping are locked.
Start your 14-day free trial to unlock the full solution →The unpaid balance due to a retiring partner is transferred to his Loan Account.
On retirement, the balance in the retiring partner's capital account (after all adjustments) shows the total sum due to him (Retirement and Death of a Partner, TN HSC Commerce). If the firm cannot pay it immediately, the amount is not left in the capital account — it is converted into a liability by transferring it to the Retiring Partner's Loan A/c, which is then paid off (often with interest) in ag …
Unlock everything free for 14 days
- Full step-by-step solutions
- Concept-first explanations
- Methods, shortcuts & mistakes
- PYQ mapping + timed mock tests
Full access for 14 days. No credit card required.