When a partner withdraws assets from a partnership that is considered as a permanent withdrawal, it is debited to: O Receivable from partner O Partner's drawing O Partner's capital O Payable to partner

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter15: Partnership Accounting
Section: Chapter Questions
Problem 9MC: What type of assets may a partner not contribute to a partnership? A. accounts receivable B....
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When a partner withdraws assets from a
partnership that is considered as a permanent
withdrawal, it is debited to:
O Receivable from partner
O Partner's drawing
O Partner's capital
O Payable to partner
Transcribed Image Text:When a partner withdraws assets from a partnership that is considered as a permanent withdrawal, it is debited to: O Receivable from partner O Partner's drawing O Partner's capital O Payable to partner
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