Which of the following is mostly used in treating partners’ current earnings?

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Accounts - Principles of Accounts JAMB 2010

Which of the following is mostly used in treating partners’ current earnings?

  • Savings account
  • Current account checkmark
  • Capital account
  • Share capital account

The correct answer is: B

Explanation

Current account of partners' is also a type of Capital Account. So if there is a debit balance in Current Account, it means a loan give to the Partner by the Firm.

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