The Owner of a Business Withdrew Cash for Personal Use

question 50

Multiple Choice

The owner of a business withdrew cash for personal use. Which of the following accounts will be credited?

• A)Smith, Capital
• B)Smith, Withdrawals
• C)Cash
• D)Accounts Payable

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Definitions:

Exploration

The process of seeking and discovering new information, experiences, or areas of knowledge.

Organic Structure

Organic structure in an organization is characterized by less formalization, more decentralization, and a flexible approach to tasks and roles, enhancing adaptability and communication among employees.

Innovative Unit

A team or department within an organization specifically tasked with developing new ideas or products.

Organic Structure

identifies a flexible, adaptive organizational design characterized by decentralized decision-making, broad job descriptions, and a network-based communication pattern.