Multiple choice

Which of the following is not an outgoing partner?

  1. An expelled partner

  2. A retired partner

  3. An insolvent partner

  4. A deceased partner

  5. None of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

On the death of a partner, the valuation of the share of the deceased partner should take place as at the date of realization and not at the date of death. A deceased can never be considered as outgoing partner and his estate of the deceased partner is entitled to the subsequent profits.

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