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Accountancy · 2025 · 1 mark
Accounting for Partnership: Basic ConceptsDistribution of Profit among Partners1 markassertion reason
CBSE 2025 · Region 5 · Set 2 · Q15
There are two statements Assertion (A) and Reason (R): Assertion (A): The partners' fixed capital accounts always show a credit balance, which shall…
There are two statements Assertion (A) and Reason (R) : Assertion (A) : The partners' fixed capital accounts always show a credit balance, which shall remain the same (fixed) year after year unless there is any addition or withdrawal of capital. Reason (R) : When capitals are fixed, then various items like share of profit or loss, interest on capital, drawings, interest on drawings, etc. are recorded in partners' capital accounts. Choose the correct option from the following :
Official answer
(C)
Assertion (A) is correct, but Reason (R) is incorrect
Marking-scheme solution
(C)
Assertion (A) is correct, but Reason (R) is incorrect.
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CBSE Class 12 Accountancy past-paper question from the 2025 board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.