If the variable capital balances method (method 1) is used, the profit or loss and partners drawings
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Question:
If the variable capital balances method (method 1) is used, the profit or loss and partners drawings are closed to the:
Select one: a. capital accounts. b. retained earnings accounts. c. income statement. d. profit or loss summary account.
Related Book For
Corporate Finance
ISBN: 9781259270116
8th Canadian Edition
Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe, Gordon Roberts, Hamdi Driss
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