An Account Used to Record the Owner's Investments in the Business

question 60

Multiple Choice

An account used to record the owner's investments in the business plus any more or less permanent changes in the equity is called a(n) :

• A)Expense account.
• B)Revenue account.
• C)Capital account.
• D)Asset account.
• E)Withdrawals account.

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Definitions:

Sound Judgment

The ability to make sensible, wise, and well-informed decisions based on the available information.

Communication Competency

The ability to effectively convey and receive messages in interpersonal and group settings, encompassing both verbal and non-verbal skills.

Business Objectives

The specific goals or aims that an organization seeks to achieve, guiding its operational and strategic direction.

Observable

Capable of being seen or noticed through direct observation.