Which of the Following Entries Records the Owner Taking Cash

question 57

Multiple Choice

Which of the following entries records the owner taking cash for personal use?

• A)Wage Expense,debit;Cash,credit
• B)Capital,debit;Cash,credit
• C)Withdrawals,debit;Cash,credit
• D)No entry is necessary since the owner owns the cash and the entire business.

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Definitions:

Pork-barrel Projects

Government projects or appropriations yielding benefits to a narrow constituency in return for political support, often criticized as wasteful public spending.

Federal Government

The central government of a federation, possessing authority over national issues, and comprising of executive, legislative, and judicial branches.

Representative Democracy

A type of democracy wherein citizens elect officials to represent their interests and make legislative decisions on their behalf, rather than making those decisions directly.

User Charge

A fee paid by the users of a service or facility, directly relating to the extent of their use.