CUET Accountancy 2025 13 May Shift 1 PYQs

Which of the following statements relates to Fixed Capital Method?

(A) The capitals of the partners shall remain fixed unless additional capital is introduced or capital is withdrawn.

(B) All items like share of profit or loss, interest on capital, drawings, interest on drawings, etc. are recorded in Partner's Current Account.

(C) The partners' capital accounts will always show a debit balance.

(D) The partners' current account may show a debit or a credit balance.

Choose the correct answer from the options given below:

When drawings are made at the beginning of every month for the full year, interest on drawings is calculated for

Contents of the Partnership Deed does not include