When a partner makes a drawing of stock items from a partnership, the accounting impact of the drawing is to increase the partner's?

  • A goodwill account balance
  • B current account credit balance
  • C current account debit balance
  • D profit and loss credit balance
jamb 1999accounting

The correct answer is C. current account debit balance

Drawings by a partner reduce the partner’s capital or current account in the partnership.

In accounting terms, the partner’s current account is debited (increased) for the value of the drawings.

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