Question

When is the partner’s executor account opened?

• A. On retirement of partner
• B. On death of partner
• C. On admission of partner
• D. None of these

Hint:

Executor’s Account is always opened at the time of partner’s death to settle his share with legal representatives.

Answer 1

The Correct Option is B

Step 1: Nature of Executor’s A/c.
Executor’s A/c is used to represent the legal heirs of the deceased partner to whom final dues are payable.
Step 2: Timing of opening.
This account is specifically opened only on the death of a partner, not on retirement or admission.
Step 3: Conclude.
Therefore, Executor’s A/c is opened when a partner dies.
Final Answer: \[ \boxed{\text{On death of partner}} \]