Which of the following accounts or statement can be made at the time of death of a partner by the partnership firm?
A) Revaluation A/c
B) Realisation A/c
C) Partner's Capital A/c
D) Partner's Wife A/c
E) Dissolution A/c
F) Partner's Executor A/c
G) Balance Sheet
Choose the correct answer from the options given below.
Answer & explanation
Correct answer: option 3
The correct answer is option 3- A, C, F, G.
The revaluation A/c is made to revalue assets and reassess liabilities.
Partner's Capital A/c is made for the partners to maintain the capital accounts and know their balance at the end of the year.
Partner's Executor A/c is made at the time of death of a partner and the deceased partner share will be transferred to his executor A/c.
Balance sheet is made at the last to know the financial position of the partnership firm.