When an owner withdraws cash or other assets from a business for personal use these withdrawals are termed
A) depletions.
B) consumptions.
C) drawings.
D) a credit line.

Question

Quizplus · Accepted Answer

The term used to describe when an owner withdraws cash or assets from a business for personal use is "drawings". Depletions and consumptions are not relevant to this context, and a credit line refers to a line of credit that a business may have with a lender, which is not related to an owner's personal withdrawals.

When an Owner Withdraws Cash or Other Assets from a Business