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24. Give the meaning of drawings. answer.A drawing account is an accountingrecord maintained to track money withdrawn from a business by its owners. A drawing account is used primarily for businesses that are taxed as sole proprietorships or partnerships. |
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Answer» ong>Answer: Since DRAWINGS are used by the BUSINESSMAN for personal PURPOSES it is a personal account Explanation: Drawings refers to the act of withdrawing cash or assets from the company by the owner(s) for personal use |
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