Post Utme Bells University 2021 Accounting Question 26

Practice objective / multiple choice question 26 from the 2021 Post Utme Bells University Accounting examination.

Post Utme Bells University 2021 Accounting Objective / Multiple Choice
Question 26 POST_UTME_BELLS_UNIVERSITY • 2021 • ACCOUNTING • objective

A partnership is dissolved when one partner dies. What is the accounting treatment for the deceased partner's share of the partnership's assets and liabilities?

Answer Options

Correct Answer A. The deceased partner's share is distributed to the remaining partners.
B. The deceased partner's share is transferred to the partnership's capital account.
C. The deceased partner's share is written off as a loss.
D. The deceased partner's share is not affected.
Correct Answer
A
Correct Option:
The deceased partner's share is distributed to the remaining partners.

About This Question

This is Post Utme Bells University 2021 Accounting Question 26. It is one of the objective questions from the 2021 Post Utme Bells University Accounting examination.

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