Welcome to the NCERT Solutions for Class 12 Accountancy - Chapter Reconstitution of a Partnership Firm - Retirement/Death of a Partner. This page offers a step-by-step solution to the specific question from Exercise 1, Question 1: . With detailed answers and explanations for each chapter, students can strengthen their understanding and prepare confidently for exams. Ideal for CBSE and other board students, this resource will simplify your study experience.
What are the different ways in which a partner can retire from the firm?
The following are the different ways in which a partner can retire from a firm.
(i) With the consent of all other partners: A partner must take the consent of all the co-partners of the firm before his/her retirement. Thereafter, the partner can retire from the firm if and only if all the partners agree on the decision of his/her retirement.
(ii) With an express agreement by all the partners: In case of written agreement among the partners a partner may retire from the firm by expressing his/her intention of leaving the firm though a notice to the other partners of the firm.
(iii) By giving a written notice: If partnership among the partners is at will then a partner may retire by giving notice in writing to all the other partners informing them about his/her intention to retire.
NCERT questions are designed to test your understanding of the concepts and theories discussed in the chapter. Here are some tips to help you answer NCERT questions effectively:
Stay updated with our latest educational content and study tips
Online gaming has rapidly become one of the most popular pastimes among children. Whether it’s multiplayer mobile games , PC adventures or console challenges , kids are spending more time than ever in the virtual world . On the surface, gaming seems entertaining and even educational – improving hand- eye coordination , teamwork and problem […]
Read MoreKids today are surrounded by screens from the moment they wake up . Whether it’s smart classrooms, online lessons or video games with friends technology has quietly become a part of everything they do. It’s amazing how much they can learn, explore and create with just a tap or a click. But it also brings […]
Read MoreThe internet is full of entertaining apps, games and movies for kids of all ages. However not everything online is safe. Hidden among these entertaining platforms are internet frauds that target children with phony gifts, free game currencies or friendly looking people. As a parent, you may believe that scammers only target adults; yet children […]
Read MoreDid you know? The average teenager spends 7 – 8 hours daily on screens . That’s almost like working a full – time job in front of a screen – except kids aren’t earning a paycheck; instead they’re often trading sleep, focus and health for digital time. In today’s world, screens are everywhere – TV, […]
Read MoreWelcome to the NCERT Solutions for Class 12 Accountancy - Chapter . This page offers a step-by-step solution to the specific question from Excercise 1 , Question 1: What are the different ways in which a partner can retire from the firm?....
Add Comment