The amount due to the deceased partner is paid to his:
Answer & explanation
Correct answer: option 1
The correct answer is option 1- Executor.
The amount due to the deceased partner is paid to his Executor.
It may noted that the accounting treatment for disposal of amount due to retiring partner and deceased partner is similar with a difference that in case of death of a partner, the amount credited to him/her is transferred to his Executors’ Account and the payment has to be made to him/her.