In the event of the death of a partner i

CUET Preparation Today

Start Free Mocks

Home Questions KEP7VKN4HG

Target Exam

CUET

Subject

Accountancy

Chapter

Reconstitution of Partnership Firm: Retirement and Death

Question:

In the event of the death of a partner in a firm, the payments due to the deceased partner is made to which account?

Options:

Capital Account

Executor Account

Current Account

Loan Account

Correct Answer:

Executor Account

Explanation:

On the death of a partner in a firm payments are made to Executor's account.