Which of the following accounts would appear on a partnership's financial statements, but not on a corporation's financial statement?

Question

Quizplus · Accepted Answer

Drawings are withdrawals made by partners from the partnership's equity accounts. This account is unique to partnerships and would not appear on a corporation's financial statements. Cost of goods sold, wage expense, and income tax expense are common accounts that would appear on both partnership and corporation financial statements.

Which of the Following Accounts Would Appear on a Partnership's