I was posed this question the other day and it stumped me.An existing 2" conduit about 350' long.Customer wants to feed 3 40 HP.motors @ 480 volts.We increasd the wire to #3 for more than 3 current carrying conductors in a single raceway.An apprentice asked me if the increase in wire size would also take care of voltage drop if it was a problem at this length.I think it would and have searched the nec but have not found anything that would apply,but sometimes when you think you are right you won't look very hard to prove yourself wrong.Any input on this would be appriciated.Because as we all know this is a continual learning process.As a wise man once said "show me a man who didn't learn something today,and I'll show you a man who didn't pay attention"