Multiple Choice
How is the allocation of partnership profits affected by drawings?
A) Drawings must be deducted from partners' salaries.
B) Drawings must be added back to profits before they are allocated.
C) Drawings must be deducted from profits before they are allocated.
D) Drawings only affect profit allocation if the partnership agreement provides for interest on drawings.
Correct Answer:

Verified
Correct Answer:
Verified
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