Retirement of a Partner: Chapter Test (CBSE Class 12)
Chapter test on Retirement of a Partner for CBSE Class 12: gaining ratio, goodwill, amount due, loan and interest, instalments and capital adjustment.
Last updated October 2026
English
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Access this test package with 1 full-length mock tests (1 free tests included)
Test series content
1 tests•30 total questions•1 free tests
Retirement of a Partner: Chapter Test
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What you'll master
Find the gaining ratio and the goodwill each continuing partner pays
Work out the amount due to the retiring partner step by step
Pass entries for lump sum, loan and instalment payments
Estimate the retiring partner's profit share up to retirement
Learn from a written explanation for every answer
Description
Retirement of a Partner: Chapter Test (CBSE Class 12)
A complete chapter test on Retirement of a Partner for CBSE Class 12 Accountancy. One test, 30 questions, 2 marks each (total 60 marks), no negative marking, and an explanation for every answer.
What's covered
- New ratio and gaining ratio when a partner retires
- Goodwill: retiring partner's share, existing goodwill, hidden goodwill
- Revaluation, reserves and net effect entries
- Profit up to the date of retirement: time basis, sales basis and the Suspense A/c entries
- Amount due: lump sum, loan, interest @ 6%, instalments, partial payment
- Adjustment of capital of the continuing partners
Who it's for
- CBSE Class 12 Commerce students revising retirement of a partner
- Students who want practice on amount due and capital adjustment numericals
Key highlights
- 30 questions on the whole chapter
- Concept, numerical and assertion-reason questions
- Explanations for every answer
- Free for everyone
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