Question : The sum owed to a partner upon his passing/death shall be credited to -
Option 1: Remaining partner’s Capital Accounts
Option 2: All partner’s Capital Accounts
Option 3: His Executor’s Account
Option 4: Governments’ Revenue Account
Answer (1)
23rd Jan, 2024
Correct Answer: His Executor’s Account
Solution : The legal heirs of a deceased partner are paid the money owed to them. As a result, the payment is made to his or her Executors A/C.
Hence the correct answer is option 3.
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