Update

Muft Shiksha™ एक 100% Free Education Portal है 🇮🇳, जिसका उद्देश्य Class 9–12 के हर विद्यार्थी तक High-Quality Education को पूरी तरह मुफ्त पहुँचाना है। 🇮🇳 हम मानते हैं कि अच्छी शिक्षा किसी student की आर्थिक स्थिति पर निर्भर नहीं होनी चाहिए। 🇮🇳 हर विद्यार्थी को वही Quality Study Material, MCQs, Quizzes, Exam Preparation, Concept-Based Learning और Bilingual Support मिलना चाहिए, जो आमतौर पर महंगी Coaching या Premium Platforms में मिलता है। Muft Shiksha™ 🇮🇳 इसी सोच के साथ बनाया गया है

Subjects
0 reads0 ratings0 helpful

Why is a partner’s share of profit up to the date of death primarily calculated?

Answer and explanation

Correct answer: To determine the correct amount payable to the legal representative

The deceased partner earns a share of the firm’s profit up to the date of death. This share is credited to the deceased partner’s capital or current account and forms part of the total amount payable to the legal representative. The new profit-sharing ratio relates to the continuing partners after the death, not to the primary purpose of this calculation. Exam tip: Always include profit up to the date of death while settling the deceased partner’s claim.

Related tags

Deceased PartnerProfit ShareLegal RepresentativeClaim SettlementReconstitutionDeceased Partner’s ShareDeceased Partner S ShareReconstitution Retirement Or Death Of A Partner

Was this question useful?

No ratings yetWrite a review / Rate this question

Student Reviews

No published reviews yet.

Add Muft Shiksha to your Home Screen

In Safari, tap Share, then Add to Home Screen.