The Proper Journal Entry to Record a Proprietor Taking $500 $\begin{array} { | c | r | r | } \hline \text { Cash } & 500 & \\\hline \text { Withdrawals } & & 500 \\\hline\end{array}$

question 52

Multiple Choice

The proper journal entry to record a proprietor taking $500 cash from the business for personal use is:

• A) \(\begin{array} { | c | r | r | }
• \hline \text { Cash } & 500 & \\
• \hline \text { Withdrawals } & & 500 \\
• \hline
• \end{array}\)
• B) \(\begin{array} { | c | r | r | }
• \hline \text { Withdrawals } & 500 & \\
• \hline \text { Cash } & & 500 \\
• \hline
• \end{array}\)
• C) \(\begin{array} { | c | r | r | }
• \hline \text { Salary expense } & 500 & \\
• \hline \text { Cash } & & 500 \\
• \hline
• \end{array}\)
• D) \(\begin{array} { | c | r | r | }
• \hline \text { Loans payable } & 500 & \\
• \hline \text { Cash } & & 500 \\
• \hline
• \end{array}\)

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Definitions:

Instrumental Values

Core values or beliefs that guide individuals in achieving their life goals and objectives.

Managers

Managers are individuals responsible for planning, leading, organizing, and controlling resources, including human, financial, and informational, to achieve organizational goals.

Instrumental Value

The utility or usefulness of something in achieving a goal or fulfilling a purpose.

Utilitarian View

A perspective in ethics that holds that the best action is the one that maximizes utility, often defined as that which produces the greatest well-being of the greatest number of people.