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Current Account

Class 12 Accountancy के इस tag से जुड़े questions। हर question के साथ chapter, topic, level और difficulty दी गई है।

AccountancyIf a partners current account shows debit balance what can it be for the firm?Class 12Partnership Accounts - Basic ConceptsCapital AccountsEasy AccountancyIn which method is a partners current account more commonly used?Class 12Partnership Accounts - Basic ConceptsCapital AccountsEasy AccountancyWhy are partner drawings not recorded in capital account under fixed capital method?Class 12Partnership Accounts - Basic ConceptsCapital AccountsEasy AccountancyUnder the fixed capital method, to which account is interest on drawings debited?Class 12Partnership Accounts - Basic ConceptsCapital AccountsEasy AccountancyUnder fixed capital method interest on capital is credited to which account?Class 12Partnership Accounts - Basic ConceptsCapital AccountsEasy AccountancyUnder fixed capital method share of loss is debited to which account?Class 12Partnership Accounts - Basic ConceptsCapital AccountsEasy AccountancyUnder the fixed capital method, to which account is a partner’s share of profit credited?Class 12Partnership Accounts - Basic ConceptsCapital AccountsEasy AccountancyAt the end of the year, to which account is a partner’s Drawings Account generally closed?Class 12Partnership Accounts - Basic ConceptsCapital AccountsEasy AccountancyWhat is the simple meaning of a credit balance in a partner's current account?Class 12Partnership Accounts - Basic ConceptsCapital AccountsEasy AccountancyWhat is the simple meaning of a debit balance in a partner’s Current Account?Class 12Partnership Accounts - Basic ConceptsCapital AccountsEasy AccountancyUnder the fixed capital method, drawings are debited to which account?Class 12Partnership Accounts - Basic ConceptsCapital AccountsEasy AccountancyWhy is a separate current account generally not prepared under fluctuating capital method?Class 12Partnership Accounts - Basic ConceptsCapital AccountsEasy AccountancyWhy is current account prepared under fixed capital method?Class 12Partnership Accounts - Basic ConceptsCapital AccountsEasy AccountancyUnder the fixed capital method, to which account is a partner’s salary credited?Class 12Partnership Accounts - Basic ConceptsCapital AccountsEasy AccountancyIf the partnership deed states that partners capitals will remain fixed but profit share will be adjusted in current accounts, which account will be credited while distributing profit?Class 12Partnership Accounts - Basic ConceptsPartnership DeedExpert AccountancyThe deed requires fixed capital. If extra capital is brought, which account is more appropriate for recording it?Class 12Partnership Accounts - Basic ConceptsPartnership DeedExpert AccountancyThe deed states the firm will not pay partners' personal income tax. The firm paid B's personal income tax. Which account should be debited?Class 12Partnership Accounts - Basic ConceptsPartnership DeedHard AccountancyThe deed follows fixed capital method but the accountant debited drawings to capital account. Why is this an error?Class 12Partnership Accounts - Basic ConceptsPartnership DeedHard AccountancyIf the deed uses fixed capital accounts where will the year end profit share be credited?Class 12Partnership Accounts - Basic ConceptsPartnership DeedHard AccountancyThe deed treats insurance premium as a partners personal expense. If the firm pays it what is the correct accounting effect?Class 12Partnership Accounts - Basic ConceptsPartnership DeedHard