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P1 C1 INTRODUCTION OF PARTNERSHIP — Elements of Account STD 12 Commerce — Question

Gujarat BoardEnglish MediumSTD 12 CommerceElements of AccountP1 C1 INTRODUCTION OF PARTNERSHIP1 Mark
Question
When fluctuating capital account method is adopted, where would you record permanent changes which takes place in the capital of partners?
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Answer

When fluctuating capital account method is adopted, permanent changes which takes place in the capital are recorded in the capital account only.

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