Question

The amount withdrawn by the partners from the business for their personal use. Answer in a word / phrase / term.

Answer 1

Drawing

im not sure but it might be correct

Answer 2

Answer:

Drawings

Explanation:

The amount which is withdrawn by a partner from the business or the form for their personal use is known as drawings.

If a partner withdraws amount from the business or the form for their personal use, the partner has to pay interest on the amount withdrawn because a partner and a partnership have a separate legal entity from each other.