With regard to interest charged on partners drawings which one or more of the following statements is/are

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With regard to interest charged on partners’ drawings which one or more of the following statements is/are correct?
(a) Interest is charged to ensure partners do not draw their profit share at all

(b) Interest is charged to discourage drawings prior to the year-end

(d) Interest is an additional earning for the partnership

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Financial Accounting An Introduction

ISBN: 9780273737650

2nd Edition

Authors: Mr Barry Elliott, Mr Augustine Benedict

Question Posted: Aug 29, 2023 10:24 AM

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With regard to interest charged on partners drawings which one or more of the following statements is/are

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aa & b bc & d cb only db&d

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c b Interest ...View the full answer

Financial Accounting An Introduction

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