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Partner's Capital Account Adjustments(Death)

The deceased ...

Question

The deceased partner`s share in the firm is calculated in the same manner as in the case of a retiring partner. Is the statement true or false?

A

None of the above

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B

Partially true

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Solution

True. The deceased partner`s share in the firm is calculated in the same manner as in the case of a retiring partner.

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Why a retiring/deceased partner is entitled to a share of goodwill of the firm?

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Partner's Capital Account Adjustments(Death)

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