Q33. Profit and Loss Suspense Account is debited at the time of death of partner_______.

Q: What is the correct answer for CUET UG Accountancy Q33?

The correct answer is b. When a partner dies, their share of profit from the last balance sheet date up to the date of death is calculated. This amount is debited to the Profit and Loss Suspense Account, which temporarily holds this calculated profit share until it is finalized and distributed to the deceased partner's account.

Q: Q33. Profit and Loss Suspense Account is debited at the time of death of partner_______.

The correct answer is b. When a partner dies, their share of profit from the last balance sheet date up to the date of death is calculated. This amount is debited to the Profit and Loss Suspense Account, which temporarily holds this calculated profit share until it is finalized and distributed to the deceased partner's account.

Q: What are the options for this CUET UG Accountancy question?

A. for the share of loss from the date of last Balance Sheet till the date of death of partner. · B. for the share of profit from the date of last Balance Sheet till the date of death of partner · C. for the share of loss from the date of death of partner till the closing of the year of death · D. for the share of profit from the date of death of partner till the closing of the year of death

Question

Q33. Profit and Loss Suspense Account is debited at the time of death of partner_______.

FirstInTest · Accepted Answer

When a partner dies, their share of profit from the last balance sheet date up to the date of death is calculated. This amount is debited to the Profit and Loss Suspense Account, which temporarily holds this calculated profit share until it is finalized and distributed to the deceased partner's account.

Answer

for the share of loss from the date of last Balance Sheet till the date of death of partner.

Answer

for the share of profit from the date of last Balance Sheet till the date of death of partner

Answer

for the share of loss from the date of death of partner till the closing of the year of death

Answer

for the share of profit from the date of death of partner till the closing of the year of death

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