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Rent Paid to Partners cannot be recorded in which of the following accounts in the partnership firm?
35. Rent Paid to Partners cannot be recorded in which of the following accounts in the partnership firm?
- Salary Account
- Depreciation Account
- Profit & Loss Account
- Expenses Account
Answer: C) Profit & Loss Account
Explanation:
Rent paid to partners cannot be recorded in the Profit & Loss Account in a partnership firm.