The Statement Concerning Drawings by Partners in a Partnership That

question 12

Multiple Choice

The statement concerning drawings by partners in a partnership that is true is:

• A)Interest is charged on drawings if the partnership agreement is silent on the matter
• B)Charging interest on drawings acts as an incentive to partners to withdraw money from the partnership
• C)Drawings are generally regarded as withdrawals of future profits
• D)Drawings are taken into account when calculating the final distribution of profit between the partners

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