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Under fixed capital method if current account is not shown but adjustments are given what is the most appropriate exam conclusion?

Answer and explanation

Correct answer: Current account of each partner should be prepared

Under fixed capital normal adjustments are kept in current accounts. Therefore current accounts are prepared to find correct balances.

Related tags

Fixed CapitalCurrent AccountExam ApproachCapital AccountsPartnership Accounts Basic ConceptsAccountancyClass 12 Mcq

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