Aries and Eros Start a Partnership Firm with Capital Contributions

question 53

Multiple Choice

Aries and Eros start a partnership firm with capital contributions of $40,000 and $60,000, respectively. In course of the year, Aries withdraws $5,000 from the business in order to meet his personal expenses. Which of the following is the correct journal entry to record the above withdrawal?

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Definitions:

Experimenters

Individuals who conduct experiments to test hypotheses or observe phenomena under controlled conditions.

Random Assignment

A method used in experiments to place participants into different groups using chance, ensuring that each group is equally likely to receive different treatments.

Intelligence

The ability to acquire knowledge, solve problems, and use reasoning to adapt to new situations.

Test Difficulty

A measure of how challenging a test or examination is, often determined by the proportion of test-takers who answer each item correctly.