When Closing the Accounts of a Partnership It Is True

Multiple Choice

When closing the accounts of a partnership it is true that:

A) Partner's salaries must be treated as drawings because partners are owners
B) A retained profits account is used rather than a profit and loss summary account
C) Profit is credited to each partner's capital account according to the profit sharing agreement
D) A loss for the period is carried forward and is not transferred to the partner's capital accounts