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Which accounts are opened when the capit...

Which accounts are opened when the capitals are fixed?

A

Only Capital Accounts

B

Only Current Accounts

C

Capital Accounts as well as Current Accounts

D

Either Capital Accounts or Current Accounts

Text Solution

Verified by Experts

The correct Answer is:
C
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Which accounts are opened when the capitals are fluctuating?

Fixed Capital

Knowledge Check

  • Partners' current Acciunts are opened when their capital Accounts are

    A
    Fixed
    B
    Fixed and Fluctuatinng both
    C
    Fluctuating
    D
    none of these

  • Savings bank accounts are opened by

    A
    Trading entities, manufacturing entities and individuals for savings purposes
    B
    Traders and manufactures for business purposes
    C
    Individuals for savings purposes
    D
    Limited companies and partnerships for savings purposes

  • Suspense Account is opened when:

    A
    Balance Sheet does not match.
    B
    Trial Balance does not match.
    C
    Total of Sales Account does not agree.
    D
    None of these.

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    Name the accounts which are maintained for the partners when capitals of the partners are fixed.

    It the Partner's Capital Accounts are fixed, interest on capital will be recorded:

    Name the account which is opened to credit the share of profit of the deceased partner, till the time of his death to his Capital Account.

    The categories of transactions that are included in the capital account of the Balance of Payments are

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