Question

The balance on the Capital A/c of retired partner is transferred in his ________ A/c.

a) Executors loan A/c
b) Loan A/c
c) Wifes loan A/c
d) Son’s loan A/c​

Answer 1

Explanation:

The balance on the Capital A/c of retired partner is transferred in his ________ A/c.

a) Executors loan A/c

Answer 2

Answer:

Explanation:

• The amount due to the retiring partner is transferred to his Loan account

• If the partner die , the amount due to him transferred to his Executors loan account