Lance Gomez Is the Owner of a Sole Proprietorship

question 188

Multiple Choice

Lance Gomez is the owner of a sole proprietorship.Lance withdrew $5,000 cash from the business for personal use.Which of the following accounts is credited?

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

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Definitions:

Lumbar Vertebra

One of the larger vertebrae located in the lower back part of the spinal column, supporting much of the body's weight.

Thoracic Vertebra

One of the twelve vertebrae located in the middle section of the vertebral column, each providing attachment for a pair of ribs.

Manubrium

The broad, upper part of the sternum (breastbone), with which the clavicles (collarbones) and first ribs articulate.

Internal Acoustic Meatus

An opening in the temporal bone of the skull that transmits nerves for hearing and balance from the inner ear to the brain.