Categories: Accounting WAEC

Where fixed capital account is maintained; partners Share of profit is transferred to the?
Where fixed capital account is maintained; partners Share of profit is transferred to the?Where fixed capital account is maintained; partners Share of profit is transferred to the?

A. debit side of the capital account
B. credit side of the capital account
C. credit side of partner’s current account
C. debit side of partners current account

Correct Answer:

Option C – credit side of partner’s current account

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