State whether the following statements are TRUE/FALSE.
1. Deceased partner is entitled to his share of goodwill.
2. Deceased partner is not entitled to his share of general reserve.
3. The capital account of a deceased partner always shows a debit balance.
4. An amount due to a deceased partner is transferred to his executor’s loan A/c.
5. If goodwill is written off deceased partner’s capital account is debited.
6. Death of partner is like a compulsory retirement.
7. Total amount due to deceased partner is paid in cash to executor immediately after his death.
8. On the death of a partner, his share in the goodwill is divided equally among continuing partners.
9. Deceased Partner’s share in profit upto the date of his death will be debited to his capital A/c.
