Question : Current Account of the partners should be opened when capital are:
Option 1: fluctuating
Option 2: fixed
Option 3: circulating
Option 4: none of these
Correct Answer: fixed
Solution : Two accounts are opened when capitals are fixed: 1. Capital Account, and, 2. Current Account. Therefore, we can say the Current Account is opened when capital is fixed. Hence, the correct option is 2.
Question : Which of the following accounts are opened when partners have fluctuating capital?
Question : Which of the following accounts are opened when partners have fixed capital?
Question : What balance does a partner's capital account have, in case of fluctuating capital?
Question : Which accounts are opened when partners have fluctuating capitals?
Question : On which side Partner's drawings out of Capital will be recorded, when their capitals are fixed?
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