Q22. Withdrawal of merchandise for personal use is referred to as. A. Sale of merchandise
B. Personal Expense
C.Drawings
D. None of the mentioned options
Answers
Answered by
1
Explanation:
Answer
Correct option is
A
Drawings A/c debit, bank A/c credit
Drawings are the amounts taken by the owner of a business for his personal use in anticipation of profit. Drawings are usually made in the form of cash, but there could be other assets or goods withdrawn by the owner for his personal use.
Similar questions