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Directions : In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): Nisha, Okra and Piya are partners. Nisha retires and her capital account after making adjustment for reserves and profit on revaluation exists at ₹`90,000. Okra and Piya have agreed to pay her ₹1,30,000 in full settlement of his claim. It implies that ₹40,000 (₹1,40,000 – ₹90,000) is Nisha’s share of goodwill of the firm. This will be treated by debiting ₹40,000 in Okra’s and Piya’s Capital Accounts in their gaining ratio and crediting Nisha’s Capital A/c.Reason (R): If the firm has agreed to settle the account of the retiring partner by paying him/her a lump-sum amount, then the amount paid to him/her in excess of his adjusted capital shall be treated as his/ her share of goodwill.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false .d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Directions : In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): Nisha, Okra and Piya are partners. Nisha retires and her capital account after making adjustment for reserves and profit on revaluation exists at ₹`90,000. Okra and Piya have agreed to pay her ₹1,30,000 in full settlement of his claim. It implies that ₹40,000 (₹1,40,000 – ₹90,000) is Nisha’s share of goodwill of the firm. This will be treated by debiting ₹40,000 in Okra’s and Piya’s Capital Accounts in their gaining ratio and crediting Nisha’s Capital A/c.Reason (R): If the firm has agreed to settle the account of the retiring partner by paying him/her a lump-sum amount, then the amount paid to him/her in excess of his adjusted capital shall be treated as his/ her share of goodwill.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false .d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Directions : In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): Nisha, Okra and Piya are partners. Nisha retires and her capital account after making adjustment for reserves and profit on revaluation exists at ₹`90,000. Okra and Piya have agreed to pay her ₹1,30,000 in full settlement of his claim. It implies that ₹40,000 (₹1,40,000 – ₹90,000) is Nisha’s share of goodwill of the firm. This will be treated by debiting ₹40,000 in Okra’s and Piya’s Capital Accounts in their gaining ratio and crediting Nisha’s Capital A/c.Reason (R): If the firm has agreed to settle the account of the retiring partner by paying him/her a lump-sum amount, then the amount paid to him/her in excess of his adjusted capital shall be treated as his/ her share of goodwill.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false .d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer?.

Solutions for Directions : In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): Nisha, Okra and Piya are partners. Nisha retires and her capital account after making adjustment for reserves and profit on revaluation exists at ₹`90,000. Okra and Piya have agreed to pay her ₹1,30,000 in full settlement of his claim. It implies that ₹40,000 (₹1,40,000 – ₹90,000) is Nisha’s share of goodwill of the firm. This will be treated by debiting ₹40,000 in Okra’s and Piya’s Capital Accounts in their gaining ratio and crediting Nisha’s Capital A/c.Reason (R): If the firm has agreed to settle the account of the retiring partner by paying him/her a lump-sum amount, then the amount paid to him/her in excess of his adjusted capital shall be treated as his/ her share of goodwill.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false .d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for Commerce. Download more important topics, notes, lectures and mock test series for Commerce Exam by signing up for free.

Here you can find the meaning of Directions : In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): Nisha, Okra and Piya are partners. Nisha retires and her capital account after making adjustment for reserves and profit on revaluation exists at ₹`90,000. Okra and Piya have agreed to pay her ₹1,30,000 in full settlement of his claim. It implies that ₹40,000 (₹1,40,000 – ₹90,000) is Nisha’s share of goodwill of the firm. This will be treated by debiting ₹40,000 in Okra’s and Piya’s Capital Accounts in their gaining ratio and crediting Nisha’s Capital A/c.Reason (R): If the firm has agreed to settle the account of the retiring partner by paying him/her a lump-sum amount, then the amount paid to him/her in excess of his adjusted capital shall be treated as his/ her share of goodwill.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false .d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Directions : In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): Nisha, Okra and Piya are partners. Nisha retires and her capital account after making adjustment for reserves and profit on revaluation exists at ₹`90,000. Okra and Piya have agreed to pay her ₹1,30,000 in full settlement of his claim. It implies that ₹40,000 (₹1,40,000 – ₹90,000) is Nisha’s share of goodwill of the firm. This will be treated by debiting ₹40,000 in Okra’s and Piya’s Capital Accounts in their gaining ratio and crediting Nisha’s Capital A/c.Reason (R): If the firm has agreed to settle the account of the retiring partner by paying him/her a lump-sum amount, then the amount paid to him/her in excess of his adjusted capital shall be treated as his/ her share of goodwill.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false .d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer?, a detailed solution for Directions : In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): Nisha, Okra and Piya are partners. Nisha retires and her capital account after making adjustment for reserves and profit on revaluation exists at ₹`90,000. Okra and Piya have agreed to pay her ₹1,30,000 in full settlement of his claim. It implies that ₹40,000 (₹1,40,000 – ₹90,000) is Nisha’s share of goodwill of the firm. This will be treated by debiting ₹40,000 in Okra’s and Piya’s Capital Accounts in their gaining ratio and crediting Nisha’s Capital A/c.Reason (R): If the firm has agreed to settle the account of the retiring partner by paying him/her a lump-sum amount, then the amount paid to him/her in excess of his adjusted capital shall be treated as his/ her share of goodwill.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false .d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer? has been provided alongside types of Directions : In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): Nisha, Okra and Piya are partners. Nisha retires and her capital account after making adjustment for reserves and profit on revaluation exists at ₹`90,000. Okra and Piya have agreed to pay her ₹1,30,000 in full settlement of his claim. It implies that ₹40,000 (₹1,40,000 – ₹90,000) is Nisha’s share of goodwill of the firm. This will be treated by debiting ₹40,000 in Okra’s and Piya’s Capital Accounts in their gaining ratio and crediting Nisha’s Capital A/c.Reason (R): If the firm has agreed to settle the account of the retiring partner by paying him/her a lump-sum amount, then the amount paid to him/her in excess of his adjusted capital shall be treated as his/ her share of goodwill.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false .d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Directions : In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): Nisha, Okra and Piya are partners. Nisha retires and her capital account after making adjustment for reserves and profit on revaluation exists at ₹`90,000. Okra and Piya have agreed to pay her ₹1,30,000 in full settlement of his claim. It implies that ₹40,000 (₹1,40,000 – ₹90,000) is Nisha’s share of goodwill of the firm. This will be treated by debiting ₹40,000 in Okra’s and Piya’s Capital Accounts in their gaining ratio and crediting Nisha’s Capital A/c.Reason (R): If the firm has agreed to settle the account of the retiring partner by paying him/her a lump-sum amount, then the amount paid to him/her in excess of his adjusted capital shall be treated as his/ her share of goodwill.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false .d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer? tests, examples and also practice Commerce tests.