A. credited to current account
B. credited to appropriation account
C. debited to appropriation account
D. debited to current account
Correct Answer:
Option D – debited to current account
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Drawing is the amount withdrawn or taken out of the business by partners during the year.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.
300 Level Estate Management and Valuation Department exam questions and detailed answers. Download the answers…
200 Level Estate Management and Valuation Department exam questions and detailed answers. Download the answers…
200 Level Estate Management and Valuation Department exam questions and detailed answers. Download the answers…
200 Level Estate Management and Valuation Department exam questions and detailed answers. Download the answers…
200 Level Estate Management and Valuation Department exam questions and detailed answers. Download the answers…
200 Level Estate Management and Valuation Department exam questions and detailed answers. Download the answers…