Question

Deceased Partner is entitled to ______.

Options

• Share of profit from the beginning of the accounting year up to the date of death.

• Share in the goodwill of the firm.

• Interest on capital from the beginning of the accounting year up to the date of death, if the Partnership Deed allows and the firm has earned profit.

• All of the above.

Answer 1

All of the above.

Explanation:

When a partner dies, their legal heir gets all their financial dues up to the date of death. This includes their share of the current year’s profit for the months they worked, their share in the firm’s goodwill for their past efforts, and interest on capital (if allowed by the partnership deed). Since all three benefits are correct.