Question

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A drawing account is an accountingrecord maintained to track money withdrawn from a business by its owners.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.​

Answer 1

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