Closing the Drawings Account to Capital Is NOT Necessary If

question 21

True/False

Closing the drawings account to Capital is NOT necessary if profit is greater than owner's drawings during the period.

---

Definitions:

Everyone's

Pertaining to or belonging to all people or to each person in a group or category.

Summer

The warmest season of the year, occurring between spring and autumn, characterized by longer daylight hours and increased temperatures.

Aunt's House

Aunt's house typically refers to the residence of one's aunt, often associated with visits or familial gatherings.

Alaska

The largest state in the United States by area, located in the northwest extremity of the country's west coast, known for its diverse terrain and extreme weather conditions.