CUET Accountancy - Which among the following is not the feature of a fixed capital method by which the capital accounts of partners can be maintained? | PYQs + Solutions

CUET Accountancy 2025 30 May Shift 2

Partnership

Easy

common

Under this method, two separate accounts are maintained for each partner, viz., 'capital account' and 'current account'.

Drawings, salary, interest on capital, etc. are posted (transferred) in the current accounts and not in the capital accounts.

The capital account shows debit balance.

The capital account balance remains unchanged unless there is an addition to or withdrawal of capital.

✅ Correct Option: 3

Related questions:

22 May Shift 1

Yadu, Madhu and Vidu are partners, sharing profit and losses in the ratio of 2:2:1. Their fixed capitals on April 01, 2018 were:

Yadu Rs. 5,00,000, Madhu Rs. 4,00,000 and Vidu is 3,50,000.

As per the partnership deed, partners are entitled to interest on capital @5% p.a. and Yadu has to be paid a salary of Rs. 2000 per month. The net loss of the firm as per profit and loss account for the year ending March 31, 2019, amounted to Rs. 75,000. On the basis of the profit and loss appropriation account, Partners' distribution of loss would be:

22 May Shift 1

Match List-I with List-II

List-I	List-II
(A) Admission of a New Partner	(I) Realisation Account
(B) Retirement of a Partner	(II) Sacrificing ratio
(C) Dissolution of Partnership	(III) Executors Account
(D) Death of A Partner	(IV) Gaining Ratio

Choose the correct answer from the options given below:

30 May Shift 1

The following are the features of the fluctuating capital method by which the capital accounts of partners can be maintained.

(A) Under the fluctuating capital method, only one account, i.e. capital account is maintained for each partner.

(B) All the adjustments such as share of profit and loss, interest on capital, drawings, interest on drawings, etc. are recorded directly in the capital accounts of the partners.

(C) the capital of the partners shall remain fixed unless additional capital is introduced or a part of the capital is withdrawn as per the agreement between the partners.

(D) The capital account may sometimes show a debit balance.

Choose the correct answer from the options given below:

CUET Accountancy 2025 30 May Shift 2 PYQs

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