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Question : In case of fixed capital, salary and commission payable to a partner will be recorded on the:

Option 1: Debit side of partner's Capital A/c

Option 2: Credit side of partner's Capital A/c

Option 3: Debit side of partner's Current A/c

Option 4: Credit side of partner's Current A/c


Team Careers360 18th Jan, 2024
Answer (1)
Team Careers360 24th Jan, 2024

Correct Answer: Credit side of partner's Current A/c


Solution : Being an income to the partners, salary and commission will be credited to the Partners' Current A/c. Hence, the correct option is 4.

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