Which of the following accounts will be debited if the business's owner withdraws cash from business for personal use?

Question

Which of the following accounts will be debited if the business's owner withdraws cash from business for personal use?

Drawings
Cash
Business
Stock

LohaHridoy

4 views

2025-01-04 04:42

1 Answers

Related Questions

Directions : In each of the following questions a statement is given, followed by two conclusions. Give answer : Statements : Today out of the world population of several thousand million, the majority of men have to live under governments which refuse them personal liberty and the right to dissent. Conclusions : I. People are indifferent to personal liberty and the right to dissent. II. People desire personal liberty and the right to dissent.?

1 Answers 5 Views

Directions : In each of the following questions a statement is given, followed by two conclusions. Give answer : Statement : Today out of the world population of several thousand million, the majority of men have to live under governments which refuse them personal liberty and the right to dissent. Conclusion : I. People are indifferent to personal liberty and the right to dissent. II. People desire personal liberty and the right to dissent.?

1 Answers 4 Views

Which of the following statement (s) is/are correct related to the cardinal principle of Bhakti Cult I. It was influencing devotion to a personal God, whose grace was the only means of attaining salvation or Mukti. II. It stressed the idea of a personal God and pointed out the absurdity of the caste system in the presence of God and the futility of external rites and ceremonies.?

1 Answers 7 Views

The Journal entry in which two or more account is debited or credited is referred to as?

1 Answers 4 Views

Goods returned by customer should be debited to which of the following accounts?

1 Answers 4 Views

Which of the following will be debited if a business purchases goods on credit?

1 Answers 7 Views

Which of the following accounts will be credited if a company purchases building for cash?

1 Answers 5 Views

Drawings by owner of business are generally recorded on which of the following side of a cash book?

1 Answers 4 Views

Introduction of capital by owner of business is recorded on which side of a cash book?

1 Answers 10 Views

Which of the below is correct with regards to universal life insuranceI: It allows policy owner to vary payments.II: Policy owner can earn market based rate of return on cash value?

1 Answers 5 Views

AhmedNazir · Accepted Answer · 2022-09-01T13:21:41+06:00

AhmedNazir

Answer: Option 1

Drawings accounts will be debited if the business's owner withdraws cash from business for personal use. Goods withdrawn for personal use by the owner of a business reduce inventory and are recorded on a drawings account.

4 views Answered 2022-09-01 13:21