In regular trading circumstances, would not be found in a partner’s current account.

capital withdrawal

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interest on drawings

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partners' salary

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partner's commission

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Solution

The correct option is A capital withdrawal
In case of partnership type of ownership in a business, the partner's current account is prepared when capital is fixed. Transactions such as drawings, salary, and interest on capital and interest on drawings are recorded in partnes' current account.

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

Under what circumstances will the premium for goodwill paid by the incoming partner not be recorded in the books of account

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