Retirement and Death of a Partner MCQs

Written by True Tamplin, BSc, CEPF®

Reviewed by Subject Matter Experts

Updated on March 26, 2023

This set of multiple choice questions (MCQs) focuses on the retirement and death of a partner. These MCQs will help you prepare for your exams, interviews, and other tests. Just click the "Start quiz" button to begin the test.

If you find it difficult to answer any of these questions, you would benefit from re-reading our article on the retirement and death of a partner.

1. A partnership may come to an end due to:
2. A revaluation account is used to determine gains or losses at the time of:
3. Partners' equity is affected by:
4. The accounting procedure applied after the retirement of a partner involves:
5. After a partner's retirement, if the remaining partners want to continue the business, a new partnership agreement is:
6. An account operated to ascertain the loss or gain at the death of a partner is called:
7. The amount due to an outgoing partner is shown on the balance sheet as their:
8. The loss or gain on account of revaluation at the time of a partner's retirement is shared by:

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Retirement and Death of a Partner MCQs FAQs

About the Author

True Tamplin, BSc, CEPF®

True Tamplin is a published author, public speaker, CEO of UpDigital, and founder of Finance Strategists.

True is a Certified Educator in Personal Finance (CEPF®), author of The Handy Financial Ratios Guide, a member of the Society for Advancing Business Editing and Writing, contributes to his financial education site, Finance Strategists, and has spoken to various financial communities such as the CFA Institute, as well as university students like his Alma mater, Biola University, where he received a bachelor of science in business and data analytics.

To learn more about True, visit his personal website or view his author profiles on Amazon, Nasdaq and Forbes.