Question : Amount in the credit side of the deceased Partner& Capital Account. Find out the odd one.

Option 1: His share of profit earned from the beginning of the financial year up to the date of death.

Option 2: His share of gain (profit) on revaluation of assets and reassessment of liabilities.

Option 3:  His share of accumulated losses

Option 4: Credit balance of capital account

Question : Amounts are debited to the deceased partner’s capital account, find out odd one 

Option 1: His share of loss on revaluation of the assets and reassessment of liabilities, if any.

Option 2: His share of accumulated losses.

Option 3:  His drawings.

Option 4:  His share of reserve fund

Question : Which of the following statements is incorrect?

Option 1: Deceased partner is entitled to his share of gain (profit) that has arisen up to the date of death.

Option 2: Deceased’s partner  will also bear the loss that may have been incurred up to the date of death.

Option 3: His share in the gain (profit) or loss on revaluation of  assets and reassessment of liabilities is credited or debited to his Capital Account.

Option 4: All of the above 

Question : Which of the following statements is incorrect?

Option 1: Deceased partner is entitled to his share of gain (profit) that has arisen up to the date of death.

Option 2: Deceased’s partner  will also bear the loss that may have been incurred up to the date of death.

Option 3: His share in the gain (profit) or loss on revaluation of  assets and reassessment of liabilities is credited or debited to his Capital Account.

Option 4: All of the above 

Question : At the time of Death of a partner Deceased partner’s share of profit earned from the beginning of the financial year up to the date of death. Will be -------- to his capital account

Option 1: Debited 

Option 2: Credited 

Option 3: Either A and B 

Option 4: None of the above