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State Whether the following Statement is True or False: Under fixed capital method, any addition to capital will be shown in partner's capital account.

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Question

State Whether the following Statement is True or False:

Under fixed capital method, any addition to capital will be shown in partner's capital account.

True or False
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Solution

The statement is true.

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Chapter 1: Accounting for Partnership Firms - Fundamentals - OBJECTIVE TYPE QUESTIONS [Page 1.141]

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D. K. Goel Accountancy Part A Volume 1 and 2 [English] Class 12
Chapter 1 Accounting for Partnership Firms - Fundamentals
OBJECTIVE TYPE QUESTIONS | Q (B) 7. | Page 1.141
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