A Drawing Account Is Sometimes Referred to as a __________

question 143

Short Answer

A drawing account is sometimes referred to as a __________.

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Definitions:

Accumulated Depreciation

The total amount of depreciation expense that has been recorded against a fixed asset since it was acquired.

Investing Activities

Activities related to the acquisition and disposal of long-term assets and other investments not included in cash equivalents.

Cash Flows

The movement of cash into or out of a business, project, or financial product as it generates income or pays expenses.

Operating Activity

Pertains to the core business activities of a company, such as selling goods or providing services, which generate revenue.