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Accountancy · 2024 · 1 mark
Accounting for Partnership: Basic ConceptsMaintenance of Capital Accounts of Partners1 markassertion reason
CBSE 2024 · Region 3 · Set 2 · Q15
Assertion (A) : Partners' current accounts maintained under 'Fixed Capital Method' may show a debit or a credit balance. Reason (R) : In the 'Fixed Capital Method', all items like share of profit or loss, interest on capital, drawings, interest on drawings et C. are recorded in the partners' capital accounts. Choose the correct option from the following :
Official answer
From CBSE’s own marking scheme for this paper.
(C)
Assertion (A) is correct, but Reason (R) is not correct
Marking-scheme solution
(C)
– Assertion (A) is correct, but Reason (R) is not correct.
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CBSE Class 12 Accountancy past-paper question from the 2024board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.