Difference between capital account and current account in partnership
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In partnership
the capital account is fixed and in this account only recording of opening capital balance and closing capital balance where opening and closing balance is fixed (not change)
Current account is known as recording of current income or expense of partners of the year .
the capital account is fixed and in this account only recording of opening capital balance and closing capital balance where opening and closing balance is fixed (not change)
Current account is known as recording of current income or expense of partners of the year .
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