Fluctuating capital account is credited with ________________

The correct answer is option 4- All of the above.

All the adjustments such as share of profit and loss, interest on capital, drawings, interest on drawings, salary or commission to partners, etc are recorded directly in the capital accounts of the partners. This makes the balance in the capital account fluctuate from time to time. Crediting all the items in the capital account of partners will increase their balance.