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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 1 · Q6
Assertion (A) : Partner cur Q' $\displaystyle 1$-ent 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 etc. 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.
Read the following hypothetical situation …………………….
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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.