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AP
Question Practice

What type of balance do partners' capital accounts show under the fixed capital method?

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

What type of balance do partne...

Single Answer MCQ
Q-00082020

What type of balance do partners' capital accounts show under the fixed capital method?

1

Debits only

2

A fluctuating balance

3

Credit balance

4

Variable balance based on profits

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What is a partnership and what are its chief characteristics?

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Q3.

What is the primary purpose of a partnership deed?

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Q4.

If a partnership deed is silent on the profit-sharing ratio, how should profits be shared?

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