Question 5: The existing partnership comes to an end and starts with new with respect to the changes happen in the business and due to unavoidable circumstances. Even a small change may affect the partnership business unlike other type of businesses. No changes can be made unless otherwise specified in the partnership deed/agreement. This is a universal fact that all businesspeople would agree. As you observed, mostly the change in the partnership can take place by admission of a new partner, retirement of a partner and the death of a partner. By considering the above concept, one of the changes occurred in your partnership business and in a situation to process it further. Suppose out of three partners, one of the partners died on 30th April during the year and informed to follow the necessary procedures as per the partnership deed. It is important to take the necessary items and calculate the final amount to settle the account of deceased partner including the profit until the date of death of a partner. The final amount must be transferred to the legal representative of a deceased partner too. By keeping the above in mind, analyze and write the legal rights which are entitled by the legal representative and evaluate the profit calculation until the date of death of a deceased partner by suitable example each with your own data. (5 Marks, Word Limit 300-600