An Account Used to Record the Owner's Investments in a Business

question 75

Multiple Choice

An account used to record the owner's investments in a business is called a(n) :

• A) Capital account.
• B) Expense account.
• C) Liability account.
• D) Withdrawals account.
• E) Revenue account.

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Definitions:

Individual Income Tax

A tax levied by governments on the income earned by individuals, varying according to income level and filing status.

Federal Government Spending

Expenditure by the federal government on goods, services, and transfers to individuals and other governmental units.

Defense

Actions, strategies, and systems designed to protect a country from external threats and maintain national security.

Social Security

Social Security is a government program that provides financial assistance to people with an inadequate or no income, including the elderly, disabled, and survivors.