Question

Capital method in which partners current account is opened. Answer in a word / phrase / term.

Answer 1

Capital is fixed

Explanation:

• A partnership current account is an account that is opened when the capital is fixed.
• In this various transactions are kept in record. For example, drawings, interest on capital or even salaries.
• The balance of this account need not be either purely  debit or credit every time. Its possible for it to result in debit or credit.
• In this account, the capital of partners often fluctuates. It is not fixed.  

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