Withdrawal of merchandise for personal use is ........

General Accounting Principles Introduction to Accounting

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Withdrawal of merchandise for personal use is:

Drawings

Sale of merchandise

Personal expense

None of the above

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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A drawing account is an accounting record maintained to track money withdrawn from a business by its owners.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. Owner withdrawals from businesses that are taxed as separate entities must generally be accounted for as either compensation or dividends.