Question 32 of 35
Q.A partner retires from the partnership firm on 30th June. He is liable for all the acts of the firm up to the :
(a) Date of his retirement
(b) End of the current accounting period
(c) Date of his final settlement
(d) End of the previous accounting period
Puducherry TnboardTamil Nadu HSC (DGE) Commerce Board 2026MCQ· 1mImportance★★★★★
91% · 32/35 Questions
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Start your 14-day free trial to unlock the full solution →A retiring partner is liable for firm's acts only up to the date of retirement. Option (a).
When a partner retires, his liability for the firm's obligations is fixed at the point he leaves:
- He remains liable for all acts of the firm done up to the date of his retirement.
- For acts done after retirement he is not liable, provided a proper public notice of retirement is given. …
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