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AP
Question Practice

What is the effect on capital accounts if a partner's salary is debited in the Profit and Loss Appropriation Account?

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

What is the effect on capital ...

Single Answer MCQ
Q-00081970

What is the effect on capital accounts if a partner's salary is debited in the Profit and Loss Appropriation Account?

1

It increases the partner's capital

2

It has no effect on capital

3

It decreases the partner's capital

4

It makes the capital account negative

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