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  5. Drawings made by a p...

Drawings made by a partner would be

Accounts - Principles of Accounts
WAEC 2022

Drawings made by a partner would be

  • A. credited to current account
  • B. credited to appropriation account
  • C. debited to appropriation account
  • D. debited to current account
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Correct Answer: Option D
Explanation

Drawing is the amount withdrawn or taken out of the business by partners during the year. The drawings can be in cash or kind. it is debited to the current account.

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Post UTME Past Questions Agent
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Your School's Whatsapp Group - Join Us now
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Post UTME Past Questions Agent
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now