12th Class Accountancy Fundamentals of Partnership Question Bank MCQs - Accounting for Partnership Firm - Fundamentals

  • question_answer
    Match the following (Capital account is to be prepared on fixed method)
    (i) Drawing against Profit (a) Partners current a/c (Credit side)
    (ii) Drawing Against capital (b) Partners current a/c (Debit side)
    (iii) Interest on Capital (Charge against profit) (c) Partners' capital a/c (Credit side)
    (iv) Additional capital (d) Partners' capital a/c (Debit side)

    A) (i) b ; (ii) c ; (iii) a ; (iv) d 

    B) (i) b ; (ii) d ; (iii) c ; (iv) a

    C) (i) d ; (ii) b ; (iii) a ; (iv) c 

    D) (i) b ; (ii) d ; (iii) a ; (iv) c

    Correct Answer: D

    Solution :

    (i) b ; (ii) d ; (iii) a ; (iv) c


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