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To whom is the amount due for a deceased partner’s share in a partnership firm paid?

Answer and explanation

Correct answer: कानूनी प्रतिनिधि (Legal representative)

After adjusting the deceased partner’s capital, share of profit and other amounts due, the final amount is payable to the deceased partner’s legal representative or executor. Customers, suppliers and the bank have no claim over this personal amount. Exam tip: remember that the deceased partner’s dues are transferred to the account of the legal representative.

Related tags

Partnership AccountsPartner RetirementPartner DeathDeceased Partner ShareLegal RepresentativeDeceased Partner’s ShareDeceased Partner S ShareReconstitution Retirement Or Death Of A Partner

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