Financial and Management Accounting

1: In case of fixed capital accounts, following are recorded in the capital accounts of partners 1. Balance of capital in the beginning of the year 2. Fresh capital introduced during the current year 3. Permanent withdrawal of excess capital and closing balance of capital 4. Income tax of partner. Select the correct answer using the codes given below:
A.

1 and 2

B.

1,2 and 4

C.

1,2 and 3

D.

1,2,3 and 4

 

Answer : C

Explanation :

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Option: A

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