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While estimating a deceased partner’s share of profit, which period’s profit is generally considered?

Answer and explanation

Correct answer: लेखांकन वर्ष के आरम्भ से मृत्यु की तारीख तक की अवधि

The deceased partner’s share of profit is generally estimated for the period from the beginning of the current accounting year up to the date of death. The amount is usually calculated on a time basis using the previous year’s profit or average profit. Option B is incorrect because it relates to the period after death. In exams, remember that profit is apportioned only up to the date of death.

Related tags

AccountancyPartnership AccountsDeceased Partner ShareRetirement Or DeathProfit EstimationDeceased Partner’s ShareDeceased Partner S ShareReconstitution Retirement Or Death Of A Partner

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