James and Mary own a business.When they pay themselves an advance in salary or a bonus, it is called a(n)________.

Question

Quizplus · Accepted Answer

When business owners pay themselves an advance in salary or a bonus, it is called a "draw". This is different from a "payout" or "cash out", which usually refers to paying out profits to shareholders or investors. "Expected outlay" is not an appropriate term in this context.

James and Mary Own a Business