Difference between retirement and death of a partner
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retirement of a partner means when a partner want to leave partnership due to some reason by himself and collect all his share in company and death of a partner means when without his wantring bcz of his death he has to leave company nd then his share give to his exicutive on his behalf
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Answer:in case of retirement,the partners can retire only at the end of an accounting year whereas death of a partner may occur at anytime during the year.
Explanation:
The balance in the retiring partner's account is either paid in lumsump or by transferring it to his loan account.
Whereas in case of death the balance is transferred to his executor 's loan account.
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