Accountancy, asked by EduPriu, 7 months ago

distinguish between retirement of a partner and death of a partner

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Answered by Anonymous

8

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. ... The balance in the retiring partner's account is either paid in lumsump or by transferring it to his loan account.

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