Current accounts of the partners should be opened when the capitals are:
A)fluctuating
B)fixed
C)either fixed or fluctuating
D)none of these

Name: Current accounts of the partners should be opened when the capitals are: A)fluctuating B)fixed C)either fixed or fluctuating D)none of these
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Question

Quizplus · Accepted Answer

When the capitals are fixed, current accounts are opened to record the partners' drawings, interest, and share of profits or losses separately from the capital accounts.

Current Accounts of the Partners Should Be Opened When the Capitals