The Variable Capital Balances Method (Method 1), Requires the Profit

question 21

Multiple Choice

The variable capital balances method (method 1) , requires the profit or loss and partner's drawings to be closed off to each partner's:

• A) capital account.
• B) cash account.
• C) profit or loss summary account.
• D) retained earnings accounts.

---

Definitions:

Crisis Management Plan

A crisis management plan is a documented strategy or set of procedures designed to help an organization respond to and manage a sudden and significant negative event.

Communication Efforts

The deliberate actions taken to convey information, ideas, or feelings to others, using various methods or channels to achieve effective communication.

Monitoring The Conversation

The practice of observing and analyzing discussions, especially on social media, to gauge public opinion or sentiment.

Corporate Communicators

Professionals responsible for managing and facilitating internal and external communication within a corporation.