Question : Partner's Drawings account is closed.

Option 1: By transfer to the credit side of the capital Account.

Option 2: By transfer to the credit side of the current account.

Option 3: either A or B

Option 4: By transfer to the debit side of the Capital or Current account.

Question : Partner's Drawings account is closed.

Option 1: By transfer to the credit side of the capital Account.

Option 2: By transfer to the credit side of the current account.

Option 3: either A or B

Option 4: By transfer to the debit side of the Capital or Current account.

Question : For the adjustment of goodwill at the time of retirement , retiring partner’s capital and current account will be ------- by his  share  and remaining partners ‘s capila or current account will be ------ in Gaining ratio.

Option 1: Debit, credit 

Option 2: Credit, debit 

Option 3: Debit, debit

Option 4: Credit, credit 

Question : In the case of fixed capital, interest on capital

Option 1: is credited to the partner's capital account

Option 2: is credited to the partner's current account

Option 3: maybe credited to the partner's capital and current account

Option 4: is debited to the partner's capital account

Question : In the case of fixed capital, interest on capital

Option 1: is credited to the partner's capital account

Option 2: is credited to the partner's current account

Option 3: maybe credited to the partner's capital and current account

Option 4: is debited to the partner's capital account