Withdrawals of assets from a business by the owners are considered expenses.
举一反三
- Distributions of assets by a business to its owners are called: A: Withdrawals. B: Expenses. C: Assets. D: Retained earnings. E: Net Income.
- If the liabilities owed by a business total $300,000 and owners equity is equal to $300,000, then the assets also total $300,000.（)
- Which of the following can be considered as assets A: eceive irevenue from main business B: web servers for an online services company C: musical instruments for a rock band D: plant equipment
- ______ are comprised of selling expenses and general and administrative expenses.
- A business has assets of $140,000 and liabilities of $60,000. How much is its owners'equity? A: $0 B: $140,000 C: $80,000 D: $200,000