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If the firm is following fixed capital accounts method, profit or loss on revaluation is transferred to Partner's ______ accounts.

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Question

If the firm is following fixed capital accounts method, profit or loss on revaluation is transferred to Partner's ______ accounts.

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Solution

If the firm is following fixed capital accounts method, profit or loss on revaluation is transferred to Partner's current accounts.

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Chapter 3: Admission of a Partner - OBJECTIVE TYPE QUESTIONS [Page 3.185]

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D. K. Goel Accountancy Part A Volume 1 and 2 [English] Class 12
Chapter 3 Admission of a Partner
OBJECTIVE TYPE QUESTIONS | Q (C) 2. | Page 3.185
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