Question 13
Question 13 of 30
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No letter options?
Older MCQs might not have the typical A, B, C, D choices. They have choices 1, 2, 3, and a combination of them is the answer. Below is the key that maps such combinations to the answer.
A 1, 2 and 3 are correct
B 1 and 2 only are correct
C 2 and 3 only are correct
D 1 only is correct
Topics Tested
1. Financial accounting (...
1.5. Preparation of financial state...

why partners may maintain separate capital accounts and current accounts

3. Financial accounting (...
3.1. Preparation of financial state...

how to prepare partners’ capital and current accounts to record changes required in respect of goodwill and revaluation of assets on: a change in the partners’ profit-sharing ratio, the introduction of a new partner, the retirement of an existing partner, the dissolution of a partnership