Question

Current account of the partners should be opened when capitals are

Answer 1

Answer:

Fixed

Explanation:

Current account of the partners should be opened when capitals are Fixed that means when capital accounts of partners shows fixed amount of balance every year.

Answer 2

In case of fixed capital method,current accounts are opened to record for all other adjustments like salary,commission,interest on capital,loans and drawings etc. Partners capital account shows a fixed balance year after year.

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