Multiple choice

What type of closing balance is shown by the partner's current account?

  1. It never shows a debit balance.

  2. It never shows a credit balance.

  3. It may have a debit or credit balance.

  4. It always shows debit balance.

  5. It always shows credit balance.

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

A current Account can show any balance, i.e., debit or credit balance.

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