Practicing Success
Where will the balance of the deceased partner's capital account be transferred after doing all adjustments by a partnership firm? |
His Current A/c His Spouse A/c His executor's A/c None of these |
His executor's A/c |
All the adjustments are being made in the capital account of the deceased partner and then the balance of the capital account is transferred to his executor’s account. The legal representative of the partner is entitled to claim the following amount in case of the death of the partner: The amount which is standing to the credit of his capital account. |