The Owner Withdrawing Cash for Personal Use Would

question 25

Multiple Choice

The owner withdrawing cash for personal use would:

• A)have no effect on assets.
• B)decrease owner's equity.
• C)decrease net income.
• D)increase assets.

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Definitions:

Measurable Accomplishment

A specific, quantifiable achievement that reflects progress towards a goal or an objective.

Excel

A spreadsheet program developed by Microsoft used for data organization, analysis, and manipulation.

Capital Gain

The profit earned from the sale of assets or investments exceeding the purchase price.

Venture Investors

Individuals or firms that provide capital to start-up companies with high growth potential in exchange for equity.