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  3. 12th Class
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  5. Fundamentals of Partnership

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

  • question_answer
    How a partner's Drawings Account will be closed when capitals of the partners are fixed?

    A) By Transferring the balance of his Drawings Account in the Debit side of Partners Capital Account.

    B) By Transferring the balance of his Drawings Account in the Credit side of Partners Capital Account.

    C) By Transferring the balance of his Drawings Account in the Debit side of Partners Current Account.

    D) By Transferring the balance of his Drawings Account in the Credit side of Partners Current Account.

    Correct Answer: C

    Solution :

    By Transferring the balance of his Drawings Account in the Debit side of Partners Current Account.


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