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AP
Question Practice

If a partner has excess credit due to omitted interest, how is this typically rectified?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 12
Accountancy
Accountancy Part - I
Accounting for Partnership: Ba...
Question Bank

If a partner has excess credit...

Single Answer MCQ
Q-00082088

If a partner has excess credit due to omitted interest, how is this typically rectified?

1

Increase the partner's salary

2

Debit the excess to the partner's capital account

3

Issue new shares

4

Distribute the excess among all partners

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