Mary Withdrew Cash in Her New Business

question 5

Multiple Choice

Mary withdrew cash in her new business.What effect will this have?

• A)Increase an asset and increase a liability
• B)Decrease an asset and increase a liability
• C)Increase an asset and increase owner's equity
• D)Decrease an asset and decrease owner's equity

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Definitions:

Butter

A dairy product made from churning milk or cream, separating the solid fats from the liquid buttermilk, and used as a spread or in cooking.

Abundance

The large quantity or amount of something present in a particular area or within a system.

Liver

A vital organ in the body performing multiple functions, including filtering toxins from the blood, metabolizing drugs, and secreting bile.

Muscle Cells

Specialized cells that make up muscle tissue, capable of contracting to facilitate movement in the body.