If a partner's capital account shows a debit balance at the end, it means: MCQ with Answer and Explanation

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If a partner's capital account shows a debit balance at the end, it means:

A. The partner owes money to the firm

B. Partner has withdrawn less

C. The firm owes money to the partner

D. Partner has made profit

Answer: Option A

Solution (By JKSSB Mock Tests)

A debit balance in a partner's capital (current) account indicates a net debit, i.e., the partner is indebted to the firm.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

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The 'Cryptocurrency' as per Indian laws is:

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Correct Answer: Option D

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Correct Answer: Option B

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This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

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