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If interest on capital is omitted under fluctuating method which account of the concerned partner is credited?

Answer and explanation

Correct answer: Capital Account

Under fluctuating method regular items go to capital account. Interest on capital is credited to capital account.

Related tags

Fluctuating CapitalInterest On CapitalCapital AccountAdjustmentsPartnership Accounts Basic ConceptsAccountancyClass 12 Mcq

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