A Special Type of Owner's Equity Account Set Up to Record

question 107

Short Answer

A special type of owner's equity account set up to record withdrawals of assets by the owner for personal use is called a(n)____________ account.

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Definitions:

Predict

To declare or indicate in advance; especially, to foretell based on observation, experience, or scientific reason.

Variable

A characteristic, number, or quantity that can be measured or quantified and can vary among individuals or over time.

Least Squares Line

A straight line that minimizes the sum of the squared differences between the observed values and the values predicted by the line.

Sales

The transactions involving the exchange of goods or services for money or value, typically measured over a particular period of time.