Post Utme Lead City University 2023 Accounting Question 11

Practice objective / multiple choice question 11 from the 2023 Post Utme Lead City University Accounting examination.

Post Utme Lead City University 2023 Accounting Objective / Multiple Choice
Question 11 POST_UTME_LEAD_CITY_UNIVERSITY • 2023 • 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

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 Lead City University 2023 Accounting Question 11. It is one of the objective questions from the 2023 Post Utme Lead City University Accounting examination.

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