Current Accounts of Partners are maintained if
Current Accounts of Partners are maintained if
a) Capitals are fixed
b) Capitals are fluctuating
c) Capitals are fixed or fluctuating
d) it is decided by the partners
Anurag Pathak Changed status to publish April 9, 2023
Ans – a)
Explanation:-
Current accounts are maintained when Capitals are fixed.
In order to maintain fixed capital all transactions or revenue nation such as interest on capital, drawings commission salary to parters and distribution of profits are shown in the current account.
Anurag Pathak Changed status to publish April 4, 2023
