Question

Loan advanced by a partner to the firm is:
a) Credited to his Loan A/c
b)Credited to his Current A/c
c)Credited to his Capital A/c
d)Credited to Profit and Loss A/c​

Answer 1

Answer:

i think it should be no c let check it

Answer 2

Partnership firm business is owned and managed by partners. Partners can mutually decide to given loans to partners from Partnership firms. When the loan is given without taking any guarantee from partners it is called an unsecured loan. A partnership deed is governing documents for the act of a firm.