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Question
State whether the following statement is True or False with reason.
A deceased partner is not entitled to the Goodwill of the firm.
Options
True
False
MCQ
True or False
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Solution
This statement is False.
A deceased partner’s contribution was there in the development of business and goodwill is the value of the business in terms of money. Hence, a deceased partner is entitled to receive the goodwill of the firm.
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Chapter 5: Reconstitution of Partnership (Death of Partner) - Exercise 5.1 (Objective Questions) [Page 201]
