Which of the following is mostly used in treating partners’ current earnings?

Which of the following is mostly used in treating partners’ current earnings?

  • A.
    Savings account
  • B.
    Current account
  • C.
    Capital account
  • D.
    Share capital account
Correct Answer: Option B
Explanation

Current account of partners’ is also a type of Capital Account. So if there is a debit balance in Current Account, it means a loan give to the Partner by the Firm.

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