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Earn 100
The capital accounts of partners will always show a ____ balance under fixed capital account method
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Important Questions on Accounting for Partnership : Basic Concepts
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Match List-I with List-II:
| List-I (Equal amount of drawings made) | List-II (Number of months for which interest calculated) |
| (A) At the end of each half year | (I) 4.5 months |
| (B) At the beginning of each quarter | (II) 6.5 months |
| (C) At the beginning of each month | (III) 7.5 months |
| (D) At the end of each quarter |
|
Choose the correct answer from the options given below:
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Which method is used for maintaining the capital accounts of partners where the capital remains unchanged except in case of additional capital introduced or capital withdrawn?
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Under the Fluctuating Capital Method, which account shows the balance of all adjustments like interest on capital, salary, commission, and share of profit?
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In which method of maintaining capital accounts do we include all transactions affecting the partner's capital directly in the Capital Account?
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Which account is debited when a partner withdraws money for personal use under the Fixed Capital Method?
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Under which method of maintaining capital accounts are two separate accounts maintained for each partner: Capital Account and Current Account?
