Generally,companies Have Three Categories of Classification of Value Added Activities

question 35

Multiple Choice

Generally,companies have three categories of classification of value added activities.Which is not one of the three categories?

• A) Value added but not necessary
• B) Unnecessary and not value added
• C) Necessary, but not value added
• D) Value added

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Definitions:

Withdrawals

Funds taken out from a business by the owner(s) for personal use, affecting the owner's equity account.

Owner's Equity Statement

A financial document that details the changes in the owner’s equity of a business over a period of time, including investments, withdrawals, and net income.

Worksheet

A document used by accountants to organize and summarize financial information for the preparation of financial statements.