Chapter: Reconstitution of Partnership (Death of Partner)· Book-Keeping & Accountancy
The balance on the capital account of a partner on his death is transferred to ____ account.
Q.1 (B) (1) The balance on the capital account of a partner on his death is transferred to ____ account.
A. Relatives
B. Legal heir’s loan/ Executor’s loan
C. Partner’s capital
D. Partner’s loan