Under the fixed capital method, the capital of the partners shall remain fixed unless additional capital is introduced or a part of the capital is withdrawn as per the agreement between the partners. Which among the following is NOT the feature of the fixed capital method?
Held on 26 May 2025 · Verified 13 Jul 2026.
The partners' capital accounts will always show a credit balance.
All adjustments for drawings, salary, interest on capital, etc., are posted in the current accounts.
Under this method, two capital accounts are maintained for each partner.
The partners' current account may show a debit or a credit balance.
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An unrecorded asset is taken over by a creditor in full settlement in such a case
The liability of partners is
As per AS-26 Intangible assets like goodwill should be written off.
Identify the correct statement from the given below :-
By virtue of which section of the Indian Partnership Act 1932, partnership is defined as 'the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all'.
Work through every CUET UG Partnership PYQ, year by year.