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Raha, Naveen and Vandana… (Class 12 Accountancy 2026, Q16)

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AccountancyCBSE Class 12 · Board exam 2026, set 67/5/1 · 1 mark · MCQ

CBSE Class 12 Accountancy 2026: question 16

Set in the CBSE Class 12 board exam of 2026, paper 67/5/1, section A, question 16, for 1 mark. Try it first; the hints and our step-by-step solution are below.

Q16 · 1 mark · MCQReconstitution of a Partnership Firm – Retirement/Death of a Partner

Raha, Naveen and Vandana were partners in a firm sharing profits and losses equally. Naveen retired on 31st March, 2025. The balance in his capital account after making the necessary adjustments on account of reserves and revaluation of assets and reassessment of liabilities was ₹ 1,27,000. Naveen was paid ₹ 1,50,000 in full settlement of his claim. The value of goodwill of the firm on the date of Naveen's retirement was :

  1. (A)₹ 1,50,000
  2. (B)₹ 23,000
  3. (C)₹ 69,000
  4. (D)₹ 4,50,000

Source: official question paper from cbse.gov.in (PDF). See it in the full 2026 board paper, set 67/5/1.

Hints

Open one hint at a time and try again before the next.

Hint 1

What explains the payment above his capital balance?

Hint 2

Scale his share up to the whole firm.

Step-by-step solution

Each step shows the marks it earns, as an examiner would award them. Checked by an independent re-solve from the question paper.

  1. Excess paid over his adjusted capital is his share of goodwill: 1,50,000 − 1,27,000 = ₹ 23,000.

  2. Naveen's share is 1/3, so the firm's goodwill = 23,000 × 3 = ₹ 69,000. Option (C).

    1 mark

Answer: (C) ₹ 69,000

Where the marks are

  • Goodwill share ₹ 23,000 grossed up for 1/3 share (1 mark)

Revise the chapter

Practise this chapterBoard-style questions from Reconstitution of a Partnership Firm – Retirement/Death of a Partner, one at a time, marked against the answer key and marking points.Back to the full paper2026 board paper, set 67/5/1: every question, by section.

The question is transcribed from the official paper; figures are described in words. The solution, hints and chapter tag are ours. Spotted an error? Write tosupport@questionbuddy.in.