Target Exam

CUET

Subject

Accountancy Part A

Chapter

Accounting for Partnership

Question:

In fixed capital method, all adjustments for partner’s drawings, salary, interest on capital, etc. are posted in the:

Options:

Partners’ Capital Accounts

Partners’ Current Accounts

Profit and Loss Account

Partners’ Capital and Current Account Both

Correct Answer:

Partners’ Current Accounts

Explanation:

The correct answer is Option (2) → 

Partners’ Current Accounts