Question : Which of the following accounts are opened when partners have fixed capital?
Option 1: Capital A/cs
Option 2: Current A/cs
Option 3: Both Capital A/cs and Current A/cs
Option 4: Either Capital A/cs or Current A/cs
Answer (1)
22nd Jan, 2024
Correct Answer: Both Capital A/cs and Current A/cs
Solution : Both Capital a/cs and Current A/cs are opened when partners have fixed capital. Hence, the correct option is 3.
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