Question

Cash withdrawn by proprietor from business for personal use is an example of

which of the following transactions:

A. decrease in assets, decrease in owner's capital.

B. increase in one asset, decrease in another asset.

C. increase in asset, increase in liabilities.

D. increase in asset, decrease in capital.​

Answer 1

Cash withdrawn by proprietor from business for personal use is an example of - - - -

A. decrease in assets, decrease in owner's capital.

Because it is drawing, used by proprietor for personal use.