Under ___ method , the capital account may have either debit or credit balances.

Fixed capital account

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Fluctuating capital account

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Interest on capital

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None of the above

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Solution

The correct option is B
Fluctuating capital account

Under fluctuating method , the capital account may have either debit or credit balances.

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Similar questions

Under fluctuating capital account, the interest on capital is credited to ___

List the items which may be debited or credited in capital accounts of the partners when

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(ii) Capitals are fluctuating

Under ___ method , the capital account always shows a credit balance.

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