Retirement doubt

Accountancy

Why do we pass that entry to all partners capital on maturity?

sradha krishna sunil

CA Final

★ 5K+

21-Sep-22 16:11

422

Answers (3)

Best Answer

Because whatever the proceeds are from insurance policy, they belong to the partners.

Aswin Chandar

CA Final

★ 40K+

21-Sep-22 16:27

Joint life policy means it is taken jointly by all partners of firm So on maturity it is distributed to all partners

Harshada Shete

CA Final

★ 2K+

21-Sep-22 17:12

Harshada Shete

Joint life policy means it is taken jointly by all partners of firm So on maturity it is distributed to all partners

Just for clarity, that even if it isn't a joint life policy but separate policies the proceeds will be shared among all partners only.

Aswin Chandar

CA Final

★ 40K+

21-Sep-22 17:25