A. Interest on capital
B. Interest on drawings
C. Share of profit
D. Drawings
Correct Answer: Option B
B. Interest on drawings
Explanation
Interest on drawings is an expense to the partner, and hence it is credited to the profit and loss appropriation 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…