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Question
Retiring partner is called an outgoing partner.
Options
Agree
Disagree
MCQ
True or False
Solution
I Agree with the given statement.
Explanation:
A retiring partner is a partner who voluntarily leaves the partnership firm due to personal reasons, age, or any other factor. Since they are exiting the firm, they are also referred to as an outgoing partner. The remaining partners may continue the business with or without a new partner.
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