Which of the Following Accounts Is Not Maintained for Each

question 23

Multiple Choice

Which of the following accounts is not maintained for each partner in its accounting records?

• A)Capital account
• B)Drawing account
• C)Earnings account
• D)Loan account

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Definitions:

Transportation Costs

Expenses associated with the movement of goods or materials from one location to another, including shipping fees, fuel costs, and logistical expenses.

Over-Allocated Overheads

A situation where the allocated overhead costs exceed the actual overhead costs incurred.

Actual Overheads

The total amount of indirect costs that a business incurs during production, which may include costs related to utilities, rent, and salaries.

Cost of Goods Manufactured

The total production cost of goods that were completed during a specific accounting period.