Briefly distinguish between a fixed capital account and a fluctuating capital account. Any loss on...
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Accounting
Briefly distinguish between a fixed capital account and a fluctuating capital account. Any loss on revaluation is Select one: a. Credited to old partners in old profit-sharing ratios b. Credited to new partners in new profit-sharing ratios OC. Debited to old partners in old profit-sharing ratio Od. Debited to new partners in new profit-sharing ratio Prime cost includes (i) Direct labour (ii) Factory overhead expenses (iii) Raw materials consumed (iv) Direct expenses Select one: a. (i), (ii), and (iii) O b. (ii), (iii), and (iv) c. (i), (iii), and (iv) Od. (i), (ii), and (iv)
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