In Accounting for a Partnership Separate Capital and Drawings Accounts

question 51

Multiple Choice

In accounting for a partnership separate capital and drawings accounts are maintained for each:

• A) shareholder.
• B) partnership.
• C) year.
• D) partner.

---

Definitions:

Substitute

An alternative or replacement for someone or something, often used in contexts ranging from education to food products.

Confederate Government

The government formed by the southern states that seceded from the United States from 1861 to 1865.

Basic Premise

The fundamental idea or underlying principle upon which a concept, theory, or system is based.