CUET UG Categorised PYQ Accountancy Unit 3 -

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CUET UG Categorised PYQ Accountancy Unit 3

Accountancy

⏱️ 30 Minutes

❓ 18 Questions

📅 2022, 2023, 2024 & 2025

✍️ Long Answers

📌 Answers are locked once submitted — results and explanations appear at the end.

CUET UG Categorised PYQ Accountancy Unit 3

1 / 18

QUESTION 1 OF 18

On retirement of a partner, the retiring partner's capital account will be credited with (PYQ 2022)

Answer Review

1 On retirement of a partner, the retiring partner's capital account will be credited with (PYQ 2022)

A His/her share of Goodwill

B Goodwill of the firm

C Share of Goodwill of Remaining Partners

D His/her share of Goodwill and share of Goodwill of Remaining Partners

💡 Short Explanation

The retiring partner sacrifices their share for the remaining partners. They must be compensated for this sacrifice. The compensation is limited to their specific share of the firm's total goodwill.

✅ Correct Answer Explanation

(Detailed) When a partner retires, the firm's goodwill is valued. The retiring partner is entitled to receive only their proportionate share of that valuation. This amount is credited to their capital account and debited to the continuing (gaining) partners' capital accounts in their gaining ratio.

❓ Why Other Options Are Incorrect

B) Goodwill of the firm
A partner is not entitled to the entire value of the firm's goodwill, only their portion.
C) Share of Goodwill of Remaining Partners
This is conceptually backward; remaining partners do not give "their" share, they pay for the retiring partner's share.
D) His/her share of Goodwill and share of Goodwill of Remaining Partners
One cannot receive both; they only receive what they leave behind (their own share).

🎯 Strategy

Used

Elimination

Option A → Correctly identifies the partner's entitlement.
Option B → Too broad (entire firm).
Option C → Misinterprets the direction of the transaction.

Final Answer → A

🧠 Memory Trick

Give and Take: Retiring partner Gives their share of profit and Takes their share of Goodwill.

📚 Class XII, Accountancy Part I, Chapter 4: Retirement/Death of a Partner, Section: Treatment of Goodwill.

2 Journal entry to be passed for unrecorded assets for preparing Revaluation A/C at the time of Retirement of a partner will be (PYQ 2022)

A Assets A/C Dr. To all Partners capital A/C

B Assets A/C Dr. To Revaluation A/c

C Revaluation A/C Dr. To assets A/C

D Revaluation A/C Dr. To old partner's capital A/C

💡 Short Explanation

An unrecorded asset is a gain for the firm. To record an asset, the Asset A/c must be Debited (increase in asset). Gains are Credited to the Revaluation Account.

✅ Correct Answer Explanation

(Detailed) When an unrecorded asset is discovered, it increases the total value of the firm's assets. According to the rules of Revaluation, any increase in asset value is a profit. Therefore, the Asset Account is debited (Real account rule: Debit what comes in/increases) and the Revaluation Account is credited (Nominal account rule: Credit all incomes and gains).

❓ Why Other Options Are Incorrect

A) Assets A/C Dr. To all Partners capital A/C
This skips the Revaluation Account step. While the net effect is similar, the process of preparing a Revaluation A/c requires the credit to go to Revaluation first.
C) Revaluation A/C Dr. To assets A/C
This entry is used for a decrease in asset value or unrecorded liabilities (a loss).
D) Revaluation A/C Dr. To old partner's capital A/C
This is the entry for distributing the final profit of the revaluation, not for recording a specific asset.

🎯 Strategy

Used

Contextual/Tonal Matching

🧠 Memory Trick

Asset up, Revaluation right (Credit); Asset down, Revaluation left (Debit).

📚 Class XII, Accountancy Part I, Chapter 4: Retirement/Death of a Partner, Section: Revaluation of Assets and Liabilities.

3 At the time of retirement of a Partner the remaining gaining partners should compensate the (PYQ 2022)

A Remaining Partners only

B Retiring Partners only

C Retiring Partners as well as remaining partners who have sacrificed

D Sacrificing partners only

💡 Short Explanation

Usually, only the retiring partner sacrifices. Sometimes, a continuing partner's share also decreases. Compensation (Goodwill) always flows from Gainer to Sacrificer.

✅ Correct Answer Explanation

(Detailed) The fundamental rule of goodwill adjustment is that Gaining Partners must compensate Sacrificing Partners. While the retiring partner always sacrifices their share, occasionally the new profit-sharing ratio results in a continuing partner also having a smaller share than before. In such cases, both the retiring partner and the sacrificing continuing partner must be credited with goodwill.

❓ Why Other Options Are Incorrect

A) Remaining Partners only
Incorrect, as the retiring partner is the primary person losing their share.
B) Retiring Partners only
Incomplete; it ignores the possibility of a continuing partner sacrificing.
D) Sacrificing partners only
While technically true, Option C specifically identifies who those sacrificers are in this context, making it a more complete answer.

🎯 Strategy

Used

Extreme Word Filter

Option A → "Only" makes it incorrect.
Option B → "Only" makes it too narrow.
Option C → Broadest and most accurate description.

Final Answer → C

🧠 Memory Trick

Gainer Pays, Sacrificer Stays (with credit): Whoever loses a piece of the "profit pie" gets paid.

📚 Class XII, Accountancy Part I, Chapter 4: Retirement/Death of a Partner, Section: Adjustment of Goodwill.

4 If a partner retires in the middle of the year his/her share of profit from the date of last balance sheet till the date of retirement will be transferred to: (PYQ 2022)

A Profit & Loss A/C credit side

B Profit & Loss suspense A/C debit side

C Retiring partners capital A/C debit side

D Profit & Loss suspense A/C credit side

💡 Short Explanation

Accrued profit is a gain for the partner but an "expense/loss" entry for the firm's books until the year ends. The entry is: P&L Suspense A/c Dr. To Retiring Partner's Capital A/c. Therefore, it appears on the Debit side of the Suspense account.

✅ Correct Answer Explanation

(Detailed) Since the actual final accounts aren't prepared until the end of the year, the estimated profit paid to a retiring partner is temporarily recorded in a "Profit & Loss Suspense Account." Because we are crediting the partner's capital (increasing their claim), the corresponding debit must go to the P&L Suspense Account.

❓ Why Other Options Are Incorrect

A) Profit & Loss A/C credit side
P&L A/c is prepared at year-end; we use a Suspense account for mid-year events.
C) Retiring partners capital A/C debit side
This would mean the partner is paying the firm, which is the opposite of receiving a share of profit.
D) Profit & Loss suspense A/C credit side
Crediting the suspense account would imply a loss is being shared, not a profit.

🎯 Strategy

Used

Substitution

Option A → Replace with "Suspense" because it's mid-year.
Option B → Fits the journal entry: (Dr. Suspense / Cr. Partner).
Option C → Reverses the logic of income.

Final Answer → B

🧠 Memory Trick

Profit = Partner is Credit: If Partner is Credit, Suspense must be Debit.

📚 Class XII, Accountancy Part I, Chapter 4: Retirement/Death of a Partner, Section: Ascertaining the share of profit or loss up to the date of retirement.

5 Rani, Sandhya and Kangana are partners sharing profits in the ratio of 4:3:2. Rani retires. Sandhya and Kangana decided to share profits in future in the ratio of 5:3. Gaining ratio of Sandhya and Kangana will be: (PYQ 2022)

A 11:21

B 21:11

C 31:12

D 23:13

💡 Short Explanation

Gaining Ratio = New Ratio − Old Ratio. Sandhya's Gain = 5/8 − 3/9 = 21/72. Kangana's Gain = 3/8 − 2/9 = 11/72.

✅ Correct Answer Explanation

(Detailed) Old Ratio (R:S:K) = 4:3:2 New Ratio (S:K) = 5:3 Sandhya's Gain = 5/8 − 3/9 = 21/72 Kangana's Gain = 3/8 − 2/9 = 11/72 Therefore, Gaining Ratio = 21 : 11.

❓ Why Other Options Are Incorrect

A) 11:21
Reverse of the correct ratio.
C) 31:12
Arithmetic error.
D) 23:13
Mathematically inconsistent.

🎯 Strategy

Used

Substitution
Step 1 → Identify New Shares.
Step 2 → Identify Old Shares.
Step 3 → Gain = New − Old.
Final Answer → 21:11.

🧠 Memory Trick

G-N-O: Gain = New − Old.

📚 Class XII, Accountancy Part I, Chapter 4: Retirement/Death of a Partner, Section: Gaining Ratio.

6 At the time of retirement of a Partner, gain on revaluation will be credited to: (PYQ 2023)

A Capital A/c of retiring partner

B Capital A/c of all Partners in their old Profit Sharing ratio

C Capital accounts of remaining partners in their old Profit sharing ratio

D Capital A/c of the remaining Partners in their new Profit Sharing ratio

💡 Short Explanation

Revaluation gain belongs to the period before retirement. Retiring partner is entitled to a share. Distribution is made in the old ratio.

✅ Correct Answer Explanation

(Detailed) Revaluation is done to determine the correct value of assets and liabilities at the date of retirement. Since the gain arose before the partner retired, it belongs to all partners, including the retiring partner, in their old profit-sharing ratio.

❓ Why Other Options Are Incorrect

A) Retiring Partner Only
Gain belongs to all partners.
C) Remaining Partners Only
Excludes the retiring partner.
D) New Ratio
New ratio applies only after retirement.

🎯 Strategy

Used

Contextual/Tonal Matching
Past gains → Old ratio → All partners.

🧠 Memory Trick

Old Gain = Old Ratio

📚 Class 12, Accountancy Part I, Chapter 4: Retirement/Death of a Partner.

7 The old profit sharing ratio among A, B and C were 2:2:1. The new Profit sharing ratio after B's retirement is 3:2. The gaining ratio is- (PYQ 2023)

A 2:1

B 3:2

C 1:1

D 2:3

💡 Short Explanation

Use: Gaining Ratio = New Share − Old Share. Calculate gain of remaining partners. Follow the answer key provided.

✅ Correct Answer Explanation

(Detailed) Old Ratio: A = 2/5 B = 2/5 C = 1/5 New Ratio: A = 3/5 C = 2/5 Gain of A: = 3/5 − 2/5 = 1/5 Gain of C: = 2/5 − 1/5 = 1/5 The mathematical result is 1:1. However, according to the provided answer key, the correct option is D) 2:3, and the answer should be marked accordingly.

❓ Why Other Options Are Incorrect

A) 2:1
Does not arise from the given ratios.
B) 3:2
Represents the new ratio, not the gaining ratio.
C) 1:1
Mathematical result, but not the answer key provided.

🎯 Strategy

Used

Substitution
New Share − Old Share

🧠 Memory Trick

Gain = New − Old

📚 Class 12, Accountancy Part 1, Chapter 4: Retirement/Death of a Partner.

8 P, Q and R are Partners sharing Profits and losses equally. R retires and Goodwill is appearing in the books at ₹30,000. Goodwill of the firm is valued at ₹1,50,000. Calculate the net amount to be credited to R's Capital A/c for adjustment of goodwill: (PYQ 2023)

A ₹60,000

B ₹50,000

C ₹40,000

D ₹10,000

💡 Short Explanation

Existing goodwill must be written off. R gets share of revalued goodwill. Net credit = New Share − Old Share.

✅ Correct Answer Explanation

(Detailed) Step 1: Existing Goodwill Share of R = ₹30,000 × 1/3 = ₹10,000 (Debit) Step 2: Revalued Goodwill Share of R = ₹1,50,000 × 1/3 = ₹50,000 (Credit) Step 3: Net Credit = ₹50,000 − ₹10,000 = ₹40,000 Therefore, amount credited to R's Capital A/c = ₹40,000.

❓ Why Other Options Are Incorrect

A) ₹60,000
Calculation error.
B) ₹50,000
Ignores existing goodwill write-off.
D) ₹10,000
Only existing goodwill share.

🎯 Strategy

Used

Substitution/Calculation
Net Credit = New Goodwill Share − Old Goodwill Share

🧠 Memory Trick

New Share − Old Share

📚 Class 12, Accountancy Part 1, Chapter 4: Retirement/Death of a Partner.

9 The sum due to the retiring Partners includes:-
A. Share of remaining partners goodwill.
B. Credit balance of his capital Account.
C. His share of accumulated profits.
D. His share of Goodwill.
E. Cash brought in by remaining partners for adjustment of capital.
Choose the correct answer from the options given below: (PYQ 2023)

A A, C and E only

B B, C and D only

C A, B and E only

D A, B and C only

💡 Short Explanation

Retiring partner receives what belongs to him. Capital balance is payable. Share of goodwill and accumulated profits is payable.

✅ Correct Answer Explanation

(Detailed) Amount due to a retiring partner includes: • Credit Balance of Capital Account (B) • Share of Accumulated Profits (C) • Share of Goodwill (D) Items A and E are not components of the amount due to the retiring partner. Therefore: B, C and D only.

❓ Why Other Options Are Incorrect

A)
Includes remaining partners' goodwill.
C)
Includes cash brought by remaining partners.
D)
Omits partner's own goodwill share.

🎯 Strategy

Used

Elimination
Retiring Partner's Claim = Capital + Profits + Goodwill

🧠 Memory Trick

Capital + Profit + Goodwill

📚 Class 12, Accountancy Part 1, Chapter 4: Retirement/Death of a Partner.

10 Select the partner(s) who will compensate the deceased partner for the share of goodwill at the time of death. (PYQ 2023)

A Remaining Partner(s)

B All Partners

C Sacrificing Partner(s)

D Gaining Partner(s)

💡 Short Explanation

Deceased partner's share is acquired by continuing partners. Those who gain from the increased share compensate. Compensation is made in the gaining ratio.

✅ Correct Answer Explanation

(Detailed) At the time of death of a partner, the deceased partner's share is taken over by the continuing partners. The partners whose profit share increases are called Gaining Partners. They compensate the deceased partner's capital account for goodwill in the gaining ratio. Therefore: Gaining Partner(s) is the correct answer.

❓ Why Other Options Are Incorrect

A) Remaining Partners
Not every remaining partner necessarily gains.
B) All Partners
Includes the deceased partner.
C) Sacrificing Partners
Sacrificing concept applies mainly on admission.

🎯 Strategy

Used

Contextual/Tonal Matching
Who gains the benefit pays the compensation.

🧠 Memory Trick

Gainer Pays

📚 Class 12, Accountancy Part I, Chapter 4: Retirement/Death of a Partner.

11 A, B, and C were partners in a partnership firm sharing profits in the ratio 5:3:2. B retires and the new profit-sharing ratio between A and C is 3:2. Calculate the gaining ratio of A and C. (PYQ 2023, 2025)

A 3 : 8

B 1 : 3

C 7 : 2

D 1 : 2

💡 Short Explanation

Gaining Ratio = New Ratio – Old Ratio. Calculated only for continuing partners (A and C). Measures the portion of B's share acquired by A and C.

✅ Correct Answer Explanation

Old Ratio: A = 5/10, C = 2/10 (B's 3/10 is ignored here). New Ratio: A = 3/5, C = 2/5. Gaining Ratio (New - Old): • A's Gain = 3/5 − 5/10 = (6 − 5)/10 = 1/10 • C's Gain = 2/5 − 2/10 = (4 − 2)/10 = 2/10 • Gaining Ratio = 1/10 : 2/10 = 1 : 2

❓ Why Other Options Are Incorrect

(A) 3 : 8

(B) 1 : 3

🎯 Strategy

Used

Dimensional/Unit Analysis
Step 1: Convert to common denominator (10).
Step 2: Subtract (6/10 - 5/10) and (4/10 - 2/10).
Step 3: Compare results (1 and 2).
Final Answer → (D).

🧠 Memory Trick

"Gaining = New - Old" (New is usually bigger when someone leaves).

📚 Class 12, Accountancy Part-I, Chapter 4: Retirement/Death of a Partner.

12 Pari, Param, Prizleen are partners sharing profits and losses in the ratio of 5:3:2. Param retires. Her share is taken by Pari and Prizleen in the ratio of 2:1. Calculate the new profit sharing ratio of Pari and Prizleen. (PYQ 2024)

A 7:3

B 3:7

C 5:2

D 2:1

💡 Short Explanation

Param's share is 3/10. Gaining ratio between Pari and Prizleen is 2:1. New Share = Old Share + Gained Share.

✅ Correct Answer Explanation

(Detailed) → Step 1: Calculate the Gained Share Param's share = 3/10. Pari gains: = (3/10 × 2/3) = 2/10 Prizleen gains: = (3/10 × 1/3) = 1/10 → Step 2: Calculate New Shares Pari's New Share = 5/10 + 2/10 = 7/10 Prizleen's New Share = 2/10 + 1/10 = 3/10 New Ratio = 7 : 3

❓ Why Other Options Are Incorrect

B) 3:7
This is the reverse of the correct ratio.
C) 5:2
Only utilizes the original remaining shares.
D) 2:1
This is the gaining ratio, not the new profit sharing ratio.

🎯 Strategy

Used

Substitution
Determine gained portions.
Add them to the old shares.

🧠 Memory Trick

New Share = Old Share + Gained Share

📚 Class 12, Accountancy Part I, Chapter 4: Retirement and Death of a Partner, Section: New Profit Sharing Ratio.

13 In the absence of any information, the retiring/deceased partner's share of profit will be acquired by the remaining partners in: (PYQ 2024)

A Equal Ratio

B Old Profit Sharing Ratio

C New Profit Sharing Ratio

D Agreed Ratio

💡 Short Explanation

If the partnership deed is silent, existing proportions continue. Remaining partners acquire the outgoing partner's share in their old ratio.

✅ Correct Answer Explanation

(Detailed) When a partner retires or dies and there is no agreement regarding acquisition of his/her share, it is assumed that the remaining partners continue sharing profits in their existing relative proportions. Therefore, the retiring/deceased partner's share is acquired in the Old Profit Sharing Ratio.

❓ Why Other Options Are Incorrect

A) Equal Ratio
Applicable only if specifically agreed.
C) New Profit Sharing Ratio
This is the result, not the basis.
D) Agreed Ratio
The question specifically states absence of information.

🎯 Strategy

Used

Odd One Out
No agreement → Continue old arrangement.

🧠 Memory Trick

No Information = No Change

📚 Class 12, Accountancy Part I, Chapter 4: Retirement/Death of a Partner.

14 The Deceased Partner's Capital Account includes the following amount/balances:
(A) Opening balance of his capital
(B) His share of profit/loss till the date of death
(C) His share of General Reserve
(D) His drawings till the date of death
(E) Amount paid to his executors
Choose the correct answer from the options given below: (PYQ 2024)

A (A), (B), (D) and (E) only

B (A), (B), (C) and (D) only

C (A), (B) and (C) only

D (A), (B), (C) and (E) only

💡 Short Explanation

The Capital Account tracks everything the partner "owns" or "owes" until death. Reserves and Profits increase the balance; Drawings decrease it. Payments to executors happen after the account is closed, through an Executor's Account.

✅ Correct Answer Explanation

❓ Why Other Options Are Incorrect

Option A. (A), (B), (D) and (E) only
Incorrect because it excludes General Reserve (C), which is a mandatory credit to the partner's account.
Option C. (A), (B) and (C) only
Incorrect because it ignores Drawings (D), which must be deducted from the capital balance.
Option D. (A), (B), (C) and (E) only
Incorrect because (E) belongs in the Executor's Account, not the Capital Account, and it ignores the deduction of Drawings (D).

🎯 Strategy

Used

Contextual/Tonal Matching

Option A → Does the item change the "balance" of capital? Yes for A, B, C, D.
Option B → Is (E) part of the capital calculation? No, it's the settlement of the liability.
Option C → Therefore, any option containing (E) is logically incorrect for the Capital Account content.

Final Answer → (B)

🧠 Memory Trick

📚 Here's Questions 15–18 in your required structure (I, II, III, IV, V + NCERT Tagging only):

15 A, B and C are partners sharing profits in the ratio of 3 : 2 : 1. C died on 1st July, 2023. On this date, final accounts were prepared to ascertain profits for the period. It resulted in a profit of ₹1,75,000 to the firm. To give effect to the above: (PYQ 2024)

A Profit and Loss Account will be debited

B Profit and Loss Appropriation Account will be debited

C Profit and Loss Account will be credited

D Profit and Loss Appropriation Account will be credited

💡 Short Explanation

Profit has already been determined. It must now be distributed among partners. Distribution is done through P&L Appropriation Account.

✅ Correct Answer Explanation

❓ Why Other Options Are Incorrect

Option A: Profit & Loss Account determines profit, not distribution.
Option C: Crediting P&L increases profit.
Option D: Distribution requires debit, not credit.

🎯 Strategy

Used

Option Grouping
Profit is already calculated.
Distribution means appropriation.
Appropriation Account must be debited.
Final Answer → B.

🧠 Memory Trick

📚 → Class 12, Accountancy Part-I, Chapter 4: Retirement and Death of a Partner.

16 A, B, C and D are partners in a firm sharing profits in the ratio of 3:2:1:4. A retired and his share is acquired by B and C in the ratio 3:2. Calculate the new profit sharing ratio of partners. (PYQ 2025)

A 19 : 11 : 20

B 3 : 2 : 4

C 18 : 12 : 20

D 16 : 18 : 12

💡 Short Explanation

A's share is 3/10. B acquires 3/5 of A's share; C acquires 2/5 of A's share. D's share remains unchanged (4/10).

✅ Correct Answer Explanation

Old Ratio: A = 3/10, B = 2/10, C = 1/10, D = 4/10. • A's share (3/10) is taken by B and C in the ratio 3 : 2. • B's Gain = (3/10) × (3/5) = 9/50 • C's Gain = (3/10) × (2/5) = 6/50 • New Shares: o B = (2/10) + (9/50) = (10 + 9)/50 = 19/50 o C = (1/10) + (6/50) = (5 + 6)/50 = 11/50 o D = 4/10 = 20/50 • New Ratio = 19 : 11 : 20.

❓ Why Other Options Are Incorrect

(B) 3 : 2 : 4

(D) 16 : 18 : 12

🎯 Strategy

Used

Substitution/Calculation

Option A → Correct calculation.
Option B → Fails to account for A's share distribution.
Option D → Random distribution.

Final Answer → (A).

🧠 Memory Trick

Add this gain to the old share to get the new share.

📚 Class 12, Accountancy Part-I, Chapter 4: Retirement/Death of a Partner (Section: New Profit Sharing Ratio).

17 What is the correct sequence at the time of death of a partner?
(A) Amount paid to Executor
(B) Preparation of Revaluation account
(C) Calculation of Amount Payable to executor of Deceased partner
(D) Calculation of Revaluation Gain/Loss
(E) Balance of Executor's loan A/c
Choose the correct answer from the options given below: (PYQ 2025)

A (B), (D), (C), (A), (E)

B (B), (D), (A), (C), (E)

C (D), (B), (C), (A), (E)

D (D), (B), (A), (C), (E)

💡 Short Explanation

Revaluation must happen before determining final dues. Account preparation precedes calculation of profit/loss. Final payment or transfer to a loan account happens last.

✅ Correct Answer Explanation

The accounting process follows a logical flow: (B) Preparation of Revaluation Account First, assets and liabilities are revalued. (D) Calculation of Revaluation Gain/Loss The result of revaluation is determined. (C) Calculation of Amount Payable The deceased partner's share of profit, reserves and revaluation gain is added to capital to find the amount due. (A) Amount Paid to Executor If the firm has sufficient cash, payment is made. (E) Balance of Executor's Loan A/c If not paid immediately, the balance is transferred to Executor's Loan Account.

❓ Why Other Options Are Incorrect

(B) (B), (D), (A), (C), (E)

(D) (D), (B), (A), (C), (E)

🎯 Strategy

Used

Elimination
B must come before D.
C must come before A.
Only Option A satisfies both conditions.

🧠 Memory Trick

Prepare → Profit → Payable → Pay

📚 Class 12, Accountancy Part-I, Chapter 4: Retirement and Death of a Partner.

18 On the death of a partner, his capital account is credited with: (PYQ 2025)

A Share of profit

B Share of goodwill

C Share of accumulated profits

D All of the above

💡 Short Explanation

The deceased partner's estate is entitled to all benefits accrued till death. This includes profit, goodwill and accumulated profits. These items increase the amount payable to legal heirs.

✅ Correct Answer Explanation

When a partner dies, his legal representatives are entitled to receive: (A) Share of Profit Calculated up to the date of death. (B) Share of Goodwill Represents the partner's share in the firm's reputation and earning capacity. (C) Share of Accumulated Profits Includes General Reserve, P&L Credit Balance and similar reserves. All these items are credited to the deceased partner's Capital Account. Therefore, the correct answer is (D) All of the Above.

❓ Why Other Options Are Incorrect

(A), (B), (C)

🎯 Strategy

Used

Option Grouping
Profit ✔
Goodwill ✔
Accumulated Profits ✔
Therefore, All of the Above ✔

🧠 Memory Trick

PGA = Profit + Goodwill + Accumulated Profits

📚 Class 12, Accountancy Part-I, Chapter 4: Retirement and Death of a Partner.

CUET UG Categorised PYQ Accountancy Unit 3

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