The account to which deceased partners capital balance is transferred. Answer in a word / phrase / term.
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DECEASED PARTNER CAPITAL AC
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Answer:
Deceased Partner’s Executors’ Loan Account
Explanation:
The account to which the capital balance of the deceased partner is transmitted is known as the Loan Account of the Deceased Partner. The sum due is transmitted to this account because it is effectively necessary to make the payment to the deceased partner's heirs. Payment can be produced in complete, that is, in one installment or in more than one installment if required.
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