Question : Which of the following statements is incorrect?

Option 1: The balance of Deceased partner's capital account is transferred to his executor's account.

Option 2: The legal representative of a deceased partner is entitled, at his discretion, to interest at 6% p.a. on the amount due from the date of death to the date of payment.

Option 3: Portion of profit which is earned by the firm with the amount due to the deceased partner.

Option 4: None of the above

Question : Which of the following statements is incorrect?

Option 1: The balance of Deceased partner's capital account is transferred to his executor's account.

Option 2: The legal representative of a deceased partner is entitled, at his discretion, to interest at 6% p.a. on the amount due from the date of death to the date of payment.

Option 3: Portion of profit which is earned by the firm with the amount due to the deceased partner.

Option 4: None of the above

Question : P, A and L are partners in a firm sharing profits and losses in the ratio of 3: 2 : 1 respectively. Angad died and his claim, including Capital and entitlements from the firm including his share of Goodwill of the firm, is Rs. 50,000. After this amount was determined, it was found that there was an unrecorded piece of furniture valued at Rs. 12,000 which had to be recorded. Upon recording this piece of furniture, the revised amount due to A’s executor was determined and settled by giving him this piece of furniture and the balance in cash.
Q. Amount Due to  A’s executor account will be 

Option 1: Rs 48,000

Option 2: Rs 50,000

Option 3: Rs 54,000

Option 4: Rs 46,000