The Account Used to Record the Transfers of Assets from a Business

question 65

Multiple Choice

The account used to record the transfers of assets from a business to its owner is:

• A) A revenue account.
• B) The owner's withdrawals account.
• C) The owner's capital account.
• D) An expense account.
• E) A liability account.

---

Definitions:

Task-Oriented

This term refers to focusing on completing specific tasks or objectives, typically in a work or project setting.

Low-Control Situations

Low-control situations refer to circumstances or environments where individuals or organizations have minimal influence or authority over outcomes or processes.

Team Management

The process of guiding and coordinating a group of individuals to achieve specific objectives or complete a project effectively.

Concern For People

An approach or attitude in management and leadership that emphasizes the importance of employee well-being and job satisfaction.