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Partner's Capital Accounts

In case of fi...

Question

In case of fixed capital accounts, transactions such as drawings, commission are recorded in a separate account called:

A

Fixed capital account

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B

Current account

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C

Fluctuating capital account

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D

Floating capital account

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Solution

The correct option is B
Current account

In case of fixed capital accounts, transactions such as drawings, commission are recorded in a separate account called current account.

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