The Owner of a Business Paid Cash from His Personal

question 72

Multiple Choice

The owner of a business paid cash from his personal checking account to purchase an automobile for his personal use. This transaction:

• A)increased a liability account and increased liabilities.
• B)decreased cash and increased expenses.
• C)increased assets and increased owners' equity.
• D)is not a transaction recognized by the business.

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Burnout

A state of physical, emotional, and mental exhaustion caused by long-term involvement in emotionally demanding situations.

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