Partner’s Current Accounts are opened when their Capital Accounts are
Partner’s Current Accounts are opened when their Capital Accounts are
a) Fixed
b) Fixed and Fluctuating both
c) Fluctuating
d) None of these
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Ans – a)
Explanation:-
Under the Fixed Capital Method, the current accounts is maintained to record all recurring nature of partners. Such as interest on capital, drawings, salary, commission and share of profits.
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