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What is the account used to record amounts withdrawn for personal use (not for business use) by an owner of a sole proprietorship called? Group of answer choices revenue capital drawing investment

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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What is the account used to record amounts withdrawn for personal use (not for business use) by an owner of a sole proprietorship called?

Group of answer choices

revenue

capital

drawing

investment

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