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Answer in One Sentence Only. Who is a Retiring Partner? - Book Keeping and Accountancy

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Question

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

One Line Answer
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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.

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Chapter 4: Reconstitution of Partnership (Retirement of Partnership) - Exercise 1 [Page 127]

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