Question

Total amount due to deceased partner is paid in cash to executor immediately after his death. (State True or False)

Answer 1

YES...

PAID HIS EXECUTOR AT THE END OF YEAR

Answer 2

Answer:

False

Explanation:

Total amount due to deceased partner is paid in cash to executor immediately after his death. - False

There are two ways to make payment to the executor, i.e. lump-sum method or process of installment, that can be embraced. Payment is made in full in the lump-sum method, i.e. in one instalment, whereas payment is made in more than one instalment in the instalment method. So, payment in money instantly is not mandatory, unless otherwise agreed.