Identify the Account Used by Businesses to Record the Transfer

question 38

Multiple Choice

Identify the account used by businesses to record the transfer of assets from a business to its owner for personal use:

• A)A revenue account.
• B)The owner's withdrawals account.
• C)The owner's capital account.
• D)An expense account.
• E)A liability account.

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Definitions:

Work Processes

The established methods and procedures used to effectively complete tasks and achieve organizational goals.

Functional Structure

An organizational design that groups employees by their similar specialties, roles, or tasks.

Dysfunctional Conflict

A type of conflict that hinders organizational performance, disrupts operations, and negatively impacts the workplace environment.

Poorer Coordination

The ineffective organization and alignment of activities and tasks among members of a group, leading to suboptimal outcomes.