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

Related Mcqs:

Which of the following account with normal balance is shown at the debit side of a trial balance?

A. Rent income account B. Creditors account C. Unearned income account D. Cash account...

An asset posses which of the following?

A. Future economic benefits for the business B. All kind of benefits for the business C. Expenses for the business D. Merits and Demerits for the business...

Prepaid expenses are valued on the Balance Sheet at

A. Replacement cost B. Current cost C. Cost to acquire less accumulated amortization D. Cost less expired portion...

From the following details what will be the partners commission? Net profit before charging partners commission 65,000. Partners commission 11% before charging such commission

A. 6441 B. 5431 C. 7150 D. 5876...

Which of these are not required in a promissory note?

A. Acceptance B. Unconditional promise to pay C. Properly stamped D. Payment to be made legal currency...