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If equal monthly drawings are made on the 15th day of every month what average period is taken?

Answer and explanation

Correct answer: (6) months

When withdrawals are made in the middle of each month the average period is (6) months. It differs from beginning and end methods.

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PartnershipAdjustmentsAverage PeriodPartnership Accounts Basic ConceptsAccountancyClass 12 Mcq

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