When closing the Withdrawal account,
A) Capital would increase.
B) Capital would decrease.
C) Capital would remain the same.
D) None of these are correct.

Name: When closing the Withdrawal account, A) Capital would increase. B) Capital would decrease. C) Capital would remain the same. D) None of these are correct.
Brand: Quizplus
Rating: 4.7 (42 reviews)

Question

Quizplus · Accepted Answer

Closing the Withdrawal account means that any money withdrawn by the owner has been returned to the business. Therefore, the owner's equity or capital would decrease.

When Closing the Withdrawal Account