CUET Accountancy - Choose the correct statement in respect of the Fixed Capital Method for a Partnership Firm :- | PYQs + Solutions

CUET Accountancy 2025 24 May Shift 1

Partnership

Easy

common

Closing Balance of Partners' Current Account will never be a zero.

Closing Balance of Partners' Capital Account may be a debit or may be a credit.

Closing Balance of Partners' Capital Account will always be a credit.

Closing Balance of Partners' Current Account will never be a credit.

✅ Correct Option: 3

CUET Accountancy 2025 24 May Shift 1 PYQs