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 Following are the differences between Capital Account and Current Account except:
  • a)
    Capital Account is prepared under fixed capital method whereas current account is prepared under fluctuating capital method
  • b)
    In capital account only capital introduced and withdrawn is recorded, all other transactions between the firm and partner is recorded in the current account
  • c)
    Interest is sometime paid on capital account balance but no such interest is payable on current account balances
  • d)
    ‘b’ and ‘c’ above
Correct answer is option 'A'. Can you explain this answer?
Verified Answer
Following are the differences between Capital Account and Current Acco...
In fixed capital method both capital n current accounts r maintained whereas in fluctuating capital method only capital account is maintained. under Fixed capital method adjustments were made in current account whereas in fluctuating capital method adjustments r made in capital accounts only.
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Following are the differences between Capital Account and Current Acco...
Capital account records long-term transactions whereas current account records short-term transactions.
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Community Answer
Following are the differences between Capital Account and Current Acco...
 
In fixed capital method both capital and current accounts are maintained whereas in fluctuating capital method only capital account is maintained. Under Fixed capital method adjustments were made in current account whereas in fluctuating capital method adjustments are made in capital accounts only.
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Following are the differences between Capital Account and Current Account except:a)Capital Account is prepared under fixed capital method whereas current account is prepared under fluctuating capital methodb)In capital account only capital introduced and withdrawn is recorded, all other transactions between the firm and partner is recorded in the current accountc)Interest is sometime paid on capital account balance but no such interest is payable on current account balancesd)‘b’ and ‘c’ aboveCorrect answer is option 'A'. Can you explain this answer?
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Following are the differences between Capital Account and Current Account except:a)Capital Account is prepared under fixed capital method whereas current account is prepared under fluctuating capital methodb)In capital account only capital introduced and withdrawn is recorded, all other transactions between the firm and partner is recorded in the current accountc)Interest is sometime paid on capital account balance but no such interest is payable on current account balancesd)‘b’ and ‘c’ aboveCorrect answer is option 'A'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Following are the differences between Capital Account and Current Account except:a)Capital Account is prepared under fixed capital method whereas current account is prepared under fluctuating capital methodb)In capital account only capital introduced and withdrawn is recorded, all other transactions between the firm and partner is recorded in the current accountc)Interest is sometime paid on capital account balance but no such interest is payable on current account balancesd)‘b’ and ‘c’ aboveCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Following are the differences between Capital Account and Current Account except:a)Capital Account is prepared under fixed capital method whereas current account is prepared under fluctuating capital methodb)In capital account only capital introduced and withdrawn is recorded, all other transactions between the firm and partner is recorded in the current accountc)Interest is sometime paid on capital account balance but no such interest is payable on current account balancesd)‘b’ and ‘c’ aboveCorrect answer is option 'A'. Can you explain this answer?.
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