What is the sequence of making account by a partnership firm at the time of death of a partner? |
ABCD DCBA ACBD DACB |
DACB |
The correct answer is option 4- DACB. The correct sequence of making accounts by a partnership firm at the time of the death of a partner is: A) Capital A/c - The deceased partner's capital account needs to be settled. C) Executor A/c - This account is used to transfer the deceased partner's share of profits and liabilities to their executor. B) Balance sheet- Finally, a new balance sheet is prepared to reflect the current financial position of the partnership after adjustments. |