Post Utme Covenant University 2025 Accounting Question 1

Practice objective / multiple choice question 1 from the 2025 Post Utme Covenant University Accounting examination.

Post Utme Covenant University 2025 Accounting Objective / Multiple Choice
Question 1 POST_UTME_COVENANT_UNIVERSITY • 2025 • ACCOUNTING • objective

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

Answer Options

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.
Correct Answer D. The deceased partner's share is distributed to the deceased partner's estate.
Correct Answer
D
Correct Option:
The deceased partner's share is distributed to the deceased partner's estate.

About This Question

This is Post Utme Covenant University 2025 Accounting Question 1. It is one of the objective questions from the 2025 Post Utme Covenant University Accounting examination.

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