Which of the following is not a withdrawal that may be found in a partnership’s drawing account? Group of answer choices Removal of cash by a partner Payment of a partners’ speeding ticket by the partnership All of the choices may be found in a drawing account Removal of inventory by a partner
Which of the following is not a withdrawal that may be found in a partnership’s drawing account? Group of answer choices Removal of cash by a partner Payment of a partners’ speeding ticket by the partnership All of the choices may be found in a drawing account Removal of inventory by a partner
Which of the following is not a withdrawal that may be found in a partnership’s drawing account? Group of answer choices Removal of cash by a partner Payment of a partners’ speeding ticket by the partnership All of the choices may be found in a drawing account Removal of inventory by a partner
Which of the following is not a withdrawal that may be found in a partnership’s drawing account?
Group of answer choices
Removal of cash by a partner
Payment of a partners’ speeding ticket by the partnership
All of the choices may be found in a drawing account
Removal of inventory by a partner
Definition Definition Arrangement between two or more people whereby they agree to manage business operations and share its profits and losses in an agreed ratio. The agreement drafted and signed by the partners of the firm is termed as a partnership deed and contains various important clauses agreed between the partners such as profit/loss sharing, interest on capital, remuneration allocation of each partner, and drawings of a partner.
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