For the period from the beginning of the accounting year, up to which date is the deceased partner’s share of profit credited to the partner’s account?

Correct answer: Up to the date of death

The deceased partner is entitled to a share of profit for the period from the beginning of the accounting year up to the date of death, and this amount is credited to the deceased partner’s account. Profit for the full year or up to the date of closing the books is not taken as the deceased partner’s share. Exam tip: the profit up to death is usually estimated using past profits or another agreed basis.