Which of the following is the feature of fluctuating capital:
Held on 14 May 2025 · Verified 13 Jul 2026.
Under this method, two separate accounts are maintained for each partner, viz., 'capital account' and 'current account.'
Each partner has one account, i.e. capital account under this method
The capital accounts always show a credit balance
The capital account balance remain unchanged unless there is addition or withdrawal of capital.
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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.