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QUESTION 3 Which account should be credited if partners make an additional investment into the business? Net Income Account Partner's Drawing Account Partners Investment account Partner's Capital QUESTION 4 The account to be debited while closing the Net Income of a partnership period is the partnership drawings account incomo summary account partner's capital account net income account QUESTIONS The legal termination of a partnership due to change of partners is called: a partnership deed. liquidation dissolution winding up QUESTION 6 If A's capital is $30,000 and B's capital is $20,000, then A's percentage of capital in the total capital is: 60%. 40%. 30%. 20%. QUESTION 7 In liquidation, after all non-cash assets have been sold and the partnership liabilities have been paid, the only accounts that remain in the ledger are: cash in bank and liabilities accounts. cash in bank and assets accounts. cash in bank and the capital account of each partner. assets and liabilities accounts