Question : The Partner's Current Account has:
Option 1: a debit balance
Option 2: a credit balance
Option 3: either a debit or credit balance
Option 4: a nil balance
Answer (1)
25th Jan, 2024
Correct Answer: either a debit or credit balance
Solution : A current account is either having a debit or a credit balance because all incomes and charges will come in this account only. Hence, the correct option is 3.
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