Multiple choice

If a partner dies, the amount on realisation of joint life policy will be

  1. credited to all partners in their profit sharing ratio

  2. credited to deceased partner only

  3. debited to all partners in their profit sharing ratio

  4. debited to deceased partner only
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

This is correct answer. The amount so realised should be credited to all the partners.

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