Which of the Following Does Not Affect Owner's Capital

question 103

Multiple Choice

Which of the following does not affect Owner's Capital?

• A) Withdrawal of cash
• B) Earning of revenues
• C) Payment of a debt
• D) Incurring of expenses

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Definitions:

Federal District Courts

Courts of the first level in the federal judicial system of the United States, where civil and criminal cases under federal statutes are tried.

Liquidation

The process of converting a company's assets into cash to pay off creditors before closing the business.

Straight Bankruptcy

Also known as Chapter 7 bankruptcy, it involves the liquidation of a debtor's non-exempt assets to pay creditors.

Federal Law

Laws passed by the national government of the United States that apply throughout the country.