Maharashtra State BoardHSC Commerce 12th Board Exam
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Answer in One Sentence Only. Who is a Retiring Partner? - Book Keeping and Accountancy

One Line Answer

Answer in one sentence only.
Who is a retiring partner?

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Solution

A partner retiring from a firm, i.e. ceasing to be a partner of the firm due to agreement between them or at his own will or due to any other reason, is called a retiring partner.

Concept: Meaning of Retirement Or Death of a Partner
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APPEARS IN

Micheal Vaz Accounts - Book Keeping and Accountancy HSC 12th Standard Maharashtra State Board
Chapter 4 Reconstitution of Partnership (Retirement of Partnership)
Exercise | Q 1 | Page 127
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