In normal trading business, which of the following would not be found in a partner's current account?

Interest on drawings

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Goodwill

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Amount drawn

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All the above

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Solution

The correct option is B Goodwill
Goodwill does not appear in partner's current account instead there are two ways in showing goodwill, one is to show them in the balance sheet (open a goodwill account) and the other one is to not show them in the balance sheet (do not open a goodwill account).

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In normal trading business, which of the following would not be found in a partner's current account?

The correct option is B GoodwillGoodwill does not appear in partner's current account instead there are two ways in showing goodwill, one is to show them in the balance sheet (open a goodwill account) and the other one is to not show them in the balance sheet (do not open a goodwill account).

The correct option is B Goodwill
Goodwill does not appear in partner's current account instead there are two ways in showing goodwill, one is to show them in the balance sheet (open a goodwill account) and the other one is to not show them in the balance sheet (do not open a goodwill account).