Question

Current Accounts of partners are maintaned if

Answer 1

Answer:

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Answer 2

Answer:

Under the 'Fixed Capital' method, current accounts of partners are maintained. All transactions relating to the partners, which include interest on capital and drawings, salary, share of profit or loss etc., are entered in the Partner's Current account. The partner's capital account balance remains fixed whereas the current account fluctuates from time to time.

Explanation:

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