Maharashtra State BoardHSC Commerce 12th Board Exam
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Give the Word / Term Or Phrase Which Can Substitute Each of the Following Statement. Method of Capital Account in Which Capital Balances of Partners Changes Every Year? - Book Keeping and Accountancy

One Word Answer

Give the word / term or phrase which can substitute the following statement.
Method of Capital account in which capital balances of partners changes every year?

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Solution

Fluctuating Capital Method

Explanation: In this method, the capital balances of partners change every year. This is because under fluctuating capital method, only one account, i.e. Capital Account, is opened and every transaction is recorded in it.

Concept: Methods of Capital Accounts - Fixed and Fluctuating Capital Method
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APPEARS IN

Micheal Vaz Accounts - Book Keeping and Accountancy HSC 12th Standard Maharashtra State Board
Chapter 1 Introduction to Partnership
Exercise | Q 1 | Page 13
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