Multiple choice questions on partnership accounting: goodwill, dissolution, and capital.

Here are the solutions to the multiple-choice questions:

14. In case of retirement of a partner, full goodwill is credited to the accounts of: When goodwill is raised or revalued upon the retirement of a partner, it is typically credited to All the partner(s) (including the retiring partner) in their old profit-sharing ratio, as it represents the value built up by the firm during their collective tenure. The correct answer is $\boxed{\text{All the partner(s)}}$

15. The end or termination of partnership is called: The complete cessation of the business of a partnership firm is known as Dissolution. The correct answer is $\boxed{\text{Dissolution}}$

16. In case of dissolution, the payment of liabilities should be credited to: When liabilities are paid during the dissolution of a firm, the cash or bank account is credited because cash is being paid out. The corresponding debit is to the Realization account. The correct answer is $\boxed{\text{Cash account}}$

17. Due to the fresh capital introduced during the year, the closing capital will: When fresh capital is introduced into the business, it adds to the existing capital, causing the closing capital to Increase. The correct answer is $\boxed{\text{Increase}}$

18. The opening and closing balance of bills receivable can be calculated by preparing: To determine the opening and closing balances of bills receivable, one needs to prepare the Bill receivable account. The correct answer is $\boxed{\text{Bill receivable account}}$

19. The amount received by the concern as per the will of the donor is known as: An amount received by an organization according to the will of a deceased person is specifically termed a Legacy. The correct answer is $\boxed{\text{Legacy}}$

20. In the book of consignor's abnormal loss of goods should be credited to: When an abnormal loss occurs in a consignment, the value of the lost goods is removed from the Consignment account by crediting it to correctly ascertain the profit or loss on the remaining goods. The correct answer is $\boxed{\text{Consignment account}}$