1. Retiring partner is entitled to his
share of goodwill. (True)
2. Retiring partner is not entitled to
his share of general reserve. (False)
3. The Capital account of a retiring
partner always shows a debit balance. (False)
4. An amount due to a deceased partner
is transferred to his executor's loan A/c (True)
5. If goodwill is written off a
retiring partner's capital account is debited. (False)
6. Death of a partner is like a
compulsory retirement. (True)
7. Total amount due to deceased partner
is paid in cash to executor immediately after his
death. (False)
8. On the death of a partner, his share
in the goodwill is divided equally among continuing partners. (False)
