[amp_mcq option1=”If unpaid amount is transferred to his loan account” option2=”If he does not give public notice” option3=”It he starts a similar business elsewhere” option4=”In all the situations till he survies” correct=”option1″]
The correct answer is: A. If unpaid amount is transferred to his loan account.
A retiring partner continues to be liable for obligations incurred after his retirement if unpaid amount is transferred to his loan account. This is because the unpaid amount is considered as a debt of the retiring partner, and he is still liable for his debts even after his retirement.
The other options are incorrect because:
- Option B is incorrect because a retiring partner is not required to give public notice of his retirement.
- Option C is incorrect because a retiring partner is not liable for obligations incurred after his retirement if he starts a similar business elsewhere.
- Option D is incorrect because a retiring partner is not liable for obligations incurred after his retirement in all situations.