Which of the Following Is Not a Feature of the Variable

question 5

Multiple Choice

Which of the following is not a feature of the variable capital balances method (method 1) of accounting for partnership equity?

• A) Each partner has one permanent capital account.
• B) Partner's drawings are closed to their capital accounts.
• C) Interest on capital is credited to the partners retained earnings accounts.
• D) The profit or loss distribution account is closed to the partner's capital accounts.

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Definitions:

Symbolic Function

The ability to use symbols, words, or objects to represent something that is not physically present.

Preoperational Thought

A stage in Piaget’s theory of cognitive development where children (ages 2-7) are able to engage in symbolic play and make intuitive guesses, but their thinking is not yet logical.

Intuitive Thought

A form of thinking that relies on a direct and immediate understanding or perception of situations, independent of conscious reasoning processes.

Secondary Circular Reactions

A stage in Piaget's theory of cognitive development where infants from 4 to 8 months discover and repeat actions by chance through their own bodies.