A payment from a proprietorship or partnership to its owner or owners is called a(n)
A) dividend
B) withdrawal
C) expense
D) equity
E) cheque

Question

Quizplus · Accepted Answer

A withdrawal is a payment made by a proprietorship or partnership to its owner or owners. Dividend is a payment made by a corporation to its shareholders, expenses are costs incurred by a business, equity is the value of assets minus liabilities, and a cheque is a written order to a bank to pay a specified amount of money from the writer's account to the recipient.

A Payment from a Proprietorship or Partnership to Its Owner