If a liability is assumed by a partner, such Partner’s Capital Account is __________

None of these

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No treatment

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Credited

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Debited

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Solution

The correct option is C
Credited

If a liability is assumed by a partner, such Partner’s Capital Account is credited.

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If a liability is assumed by a partner, such Partner’s Capital Account is __________

The correct option is C Credited If a liability is assumed by a partner, such Partner’s Capital Account is credited.

The correct option is C
Credited

If a liability is assumed by a partner, such Partner’s Capital Account is credited.