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  • Partnership and Not-for-Profit Accounting
  • The interest on capital under fixed capital method is cre...
Multiple choice

The interest on capital under fixed capital method is credited to

  1. revaluation A/c

  2. partner's capital A/c

  3. partner's current A/c

  4. None of these

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Under this method, all adjustments are made in the partner's current A/c.

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