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Commerce · Q889

Accounting

Graduate and Post Graduate · Commerce · question 889

Q889

Premium paid on the Joint Life Policy of the partners is

A.
Credited to the respective partner's capital account
B.
Debited to the respective partner's capital account
C.
Credited to profit and loss account
D.
Debited to profit and loss account
Answer

Answer: Option D

Solution

Answer: Option D
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