Which of the following accounts is not maintained for each partner in its accounting records?
A)Capital account
B)Drawing account
C)Earnings account
D)Loan account

Question

Quizplus · Accepted Answer

Earnings account is not typically maintained for each partner in partnership accounting. Instead, individual capital and drawing accounts are maintained, and profits or losses are allocated to partners' capital accounts directly.

Which of the Following Accounts Is Not Maintained for Each