Answer:

Continuing partners
The goodwill of a partnership firm represents the value of the reputation, customer base, and other intangible assets of the business. When a partner retires, the goodwill of the firm needs to be revalued. If the goodwill is raised to its full value upon the retirement of a partner, it will be credited to the capital accounts of the remaining or continuing partners.

Reasoning:
1. Impact on the remaining partners: When a partner retires, the goodwill of the firm needs to be adjusted to reflect its true value. If the goodwill is raised to its full value, it will increase the total value of the firm. This added value will benefit the continuing partners as they will now have a higher share of goodwill in the partnership.
2. Distribution of profits: The increase in goodwill will be reflected in the capital accounts of the continuing partners. This means that the continuing partners will be entitled to a larger share of the profits of the firm based on their increased capital contribution due to the revaluation of goodwill.
3. Recognition of contribution: Crediting the increased goodwill to the capital accounts of the continuing partners acknowledges their continued contribution to the firm's success. It reflects their increased ownership stake in the partnership following the retirement of a partner.
In conclusion, when goodwill is raised to its full value upon the retirement of a partner, it will be credited to the capital accounts of the continuing partners. This adjustment ensures that the remaining partners receive their fair share of the increased goodwill and reflects their ongoing commitment to the partnership.

It will be credit to capital account of retiring partners
as when we credit retiring partners capital account then the net effect will be
gaining partners capital account....debit
to retiring partners capital account