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Home Questions XW66UN77Q4
Target Exam

CUET

Subject

-- Accountancy Part A

Chapter

Reconstitution of Partnership Firm: Retirement and Death

Question:

The amount due to the deceased partner is paid to his:

Options:

Executor

Wife

Father

Any of the family Member with the consent of all the family members.

Correct Answer:

Executor

Explanation:

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.

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