With regard to death or retirement of a partner which of the following statement(s) is/are correct? (a)

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With regard to death or retirement of a partner which of the following statement(s) is/are correct?

(a) When a partner leaves his dues should be settled at once

(b) If retiring partner’s dues are not immediately settled interest becomes payable at 5%

(d) Interest on a deceased partner’s dues is a charge (rather than appropriation) of profit

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Financial Accounting An Introduction

ISBN: 9780273737650

2nd Edition

Authors: Mr Barry Elliott, Mr Augustine Benedict

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Question Posted: Aug 29, 2023 10:24 AM

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With regard to death or retirement of a partner which of the following statement(s) is/are correct? (a)

Question:

a a, b & c bb, c & d ca & b dc & d

Step by Step Answer:

b b If retiring partners dues are not immediately ...View the full answer

Financial Accounting An Introduction

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