Multiple Choice
If drawings exceed opening capital plus net profit, and no new capital has been introduced, then the:
A) Business is healthy.
B) Drawings account has a credit balance
C) Business is bankrupt
D) Capital account has a credit balance
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q1: Which of the following statements is not
Q2: Which of the following statements is correct?<br>A)
Q3: An entity's net profit may be calculated
Q4: Which of the following best explains what
Q5: Which of the following is regarded as
Q7: A business has a property worth £60,000,
Q8: If opening capital is £120,000, closing capital
Q9: Owner's capital is:<br>A) Opening capital plus drawings
Q10: Which of the following is regarded as
Q11: Which of the following is regarded as