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Question
Deceased partner's executor’s account is shown on the ______ side of balance sheet.
Fill in the Blanks
Solution
Deceased partner's executor’s account is shown on the liabilities side of balance sheet.
Explanation:
The Deceased Partner’s Executor’s Account is shown on the liabilities side of the balance sheet because the firm owes the deceased partner’s dues to his legal heirs, making it a liability until settled.
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