i. An amount due to a deceased partner is transferred to _________ A/c. ii. Death of a partner is like a _________ retirement.

Question

Fill in the blanks and rewrite the following sentence.

i. An amount due to a deceased partner is transferred to _________ A/c.

ii. Death of a partner is like a _________ retirement.

iii. Usually assets and liabilities of the firm are revalued on the _________of a partner.

iv. For increase in the value of assets, Revaluation Account is ________

v. A partner who died is known as _______

vi. A person who represent a deceased partner is known as ___________

Answer 1

i. Executor’s Loan

ii. compulsory

iii. death

iv. credited

v. deceased partner

vi. Legal Heir or Executor.