Which of the Following Entries Records the Owner Taking Cash

question 104

Multiple Choice

Which of the following entries records the owner taking cash for personal use?

• A) Wage Expense, debit; Cash, credit.
• B) Capital, debit; Cash, credit.
• C) No entry is necessary since the owner owns the cash and the entire business.
• D) Withdrawals, debit; Cash, credit.

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Definitions:

Registrations

Registrations refer to the act of enrolling or registering in a system, event, or database, often requiring the submission of personal or professional information.

Signify

To represent, stand for, or denote something, often through symbols or signs.

Production Capability

A measure of the maximum output or production level that a company can sustainably achieve.