Multiple Choice
A regular withdrawal of cash by the owner from the business is treated as a reduction in equity and is recorded in an account called:
A) petty cash.
B) drawings.
C) debtors.
D) borrowings.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q44: Which of the following transactions relating to
Q45: The term used in the Framework for
Q46: In Accounting, GST stands for:<br>A) General Service
Q47: The GST is a tax that is
Q48: In accounting, ABN stands for:<br>A) Annual Business
Q50: Which of the following statements relating to
Q51: Kleen Windows received $770 (including GST) from
Q52: Which of the following statements is correct?<br>A)
Q53: A collection of all the individual accounts
Q54: A sole proprietor who owns a newsagency