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Journalising Transactions

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Question

Give the word / term or phrase which can substitute each of the following statement.

Method of Capital account in which capital balances of partners changes every year?

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Solution

Fluctuating Capital Method
Explanation: In this method, the capital balances of partners change every year. This is because under fluctuating capital method, only one account, i.e. Capital Account, is opened and every transaction is recorded in it.

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