Question : The balance of partner's Capital Accounts, in case of fixed capital method, are:
Option 1: Always Debit
Option 2: Always Credit
Option 3: Either debit/credit
Option 4: Neither debit nor credit
Answer (1)
25th Jan, 2024
Correct Answer: Always Credit
Solution : In case of fixed capital method, partners' capital account is always having a credit balance. Hence, the correct option is 2.
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