Interest of Drawings is:
A) Expenditure for the business
B) Expense for the business
C) Gain for the business
D) none
Correct Answer:
Verified
Q41: Rules of revenue recognition determine that earning
Q42: Value of goods withdrawn by the proprietor
Q43: M/s Stationery Mart will debit the purchase
Q44: Goods distributed as free samples is debited
Q45: Journal entry for wages paid Rs. 5,000
Q47: Drawings account is the nature of
A)Personal Account
B)Real
Q48: Outstanding Salaries are shown as:
A)An Expense
B)A Liability
C)An
Q49: Income tax paid by a sole proprietor
Q50: The Income created but not yet received
Q51: The income earned but not yet received:
A)Accrued
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