If the business’s owner withdraws cash for his/her personal use what will be the effect on capital?

Related Mcqs:

Sales and purchase journal don’t record__________?

A. Credit sales B. Credit purchases C. Credit sales and purchases D. Cash sales and purchases...

Which of the following is a liability?

A. Cash B. Equipment C. Debtors D. Creditors...

Payment of expenses will ______ the assets

A. Increase B. Reduce C. apportion D. Overstate...

Total depreciation of an asset cannot exceed its:

A. Scrap value B. Residual value C. Market value D. None of these...

Which of these errors affect only one account?

A. Errors of casting B. Errors of carry forward C. Errors of posting D. All the three...