At the death of partner which of the following account is prepared in order to make the payment of h...........

General Accounting Principles Partnership

At the death of partner which of the following account is prepared in order to make the payment of his share of profts and losses in the partnership Firm-

Partner's loan Account

Executor Account

Legal hier Account

None of the above

छोटे Courses बड़े Results

Master Partnership

Prepare through Micro-courses

Try Now

Explanation:

The partnership deed usually states how this share is to be determined at the death of a partner. After ascertaining the amount due to the deceased partner, the balance in his capital account should be transferred to an account opened in the name of his executors