Question : What balance does a partner's capital account have, in case of fluctuating capital?
Option 1: Debit balance
Option 2: Credit
Option 3: Both (1) or (2)
Option 4: None of these
Correct Answer: Both (1) or (2)
Solution : In case of fluctuating capital, a partner's capital account is having either a debit or credit balance. Hence, the correct option is 3.
Question : The balance of partner's Capital Accounts, in case of fixed capital method, are:
Question : The Partner's Current Account has:
Question : In case of fixed capital, salary and commission payable to a partner will be recorded on the:
Question : Current Account of the partners should be opened when capital are:
Question : On which side Partner's drawings out of Capital will be recorded, when their capitals are fixed?
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