Multiple Choice Questions on Cash or goods taken away by the proprietor is called ........ for UPSC EPFO Exam Preparation

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Multiple Choice Questions

Cash or goods taken away by the proprietor is called ........

General Accounting Principles Introduction to Accounting
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    Cash or goods taken away by the proprietor is called

    Drawings

    Correct Answer

    Sales

    Incorrect Answer

    Charity

    Incorrect Answer

     Expense

    Incorrect Answer
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    Explanation:

     A drawing account is an accounting record maintained to track money withdrawn from a business by its owners. A drawing account is used primarily for businesses that are taxed as sole proprietorships or partnerships.

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