Accounting for IGCSE & O level - Preparation Of Financial Statements (Section 7 - No. 4)
In the context of a partnership, which item affects a partner's 'Current Account'?
Interest on capital.
The partner's share of the profit.
The partner's drawings.
The partner's initial capital contribution.
Explanation
The current account is affected by interest on capital, share of profit, and drawings.
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