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Why is it necessary to read current account along with capital account under fixed capital method?

Answer and explanation

Correct answer: Because real partner position is shown by both together

Fixed capital account contains capital only and current account contains adjustments. So total position is understood by reading both.

Related tags

Fixed CapitalCurrent AccountPartner PositionCapital AccountsPartnership Accounts Basic ConceptsAccountancyClass 12 Mcq

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