Podcast
Questions and Answers
In a partnership, which type of account represents the personal account of the partners?
In a partnership, which type of account represents the personal account of the partners?
When preparing a partnership balance sheet, where would the partners' current accounts be shown?
When preparing a partnership balance sheet, where would the partners' current accounts be shown?
What happens when a partner's share of profits is higher than their current account balance in a partnership?
What happens when a partner's share of profits is higher than their current account balance in a partnership?
Study Notes
In a partnership, which type of account represents the personal account of the partners? When preparing a partnership balance sheet, where would the partners' current accounts be shown? What happens when a partner's share of profits is higher than their current account balance in a partnership?
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Description
Test your understanding of partnership accounts in class 12 with this quiz! Explore questions related to the types of accounts in partnerships, balance sheet preparation, and scenarios involving partners' profits and current account balances.
