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 Choose the correct answer from the options given below. |
B, E, F A, C, G A, C, F, G B, D, E, G |
A, C, F, G |
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. |