Current accounts of the partners should be opened when the capitals are .

normal

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floating

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fixed

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fluctuating

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Solution

The correct option is C fixed
In case of partnership type of ownership in a business, partner's current account is prepared when capital is fixed.

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Similar questions

Current accounts of the partners should be opened when the capitals are:

List the items which may be debited or credited in capital accounts of the partners when

(i) Capitals are fixed

(ii) Capitals are fluctuating

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