Accounting Capital Premium > Quiz – Drawings – MCQ

Quiz – Drawings – MCQ

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  • Time Limit: Unlimited
  • Level: Easy to Medium
  • Question Type: MCQs
  • Passing Score: 90%
  • No. of Questions: 14
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Drawings reduces the total _____ of a business.

In case of goods withdrawn for personal use, ‘stock’ account is _____.

In case of money withdrawn for personal use, ‘drawings’ account is _____.

Drawings account is also called _____ account.

In case of goods withdrawn, the adjustment is done at _____.

In the case of goods withdrawn, stock _____.

At the end of an accounting year, ‘drawings’ account is _____.

Drawings are shown on the debit side of profit & loss account.

Drawings are shown as a liability on the balance sheet.

Drawings are reduced from _____.

Director Salary or Employee Wages are also Drawings.

‘Drawings’ can also mean goods _____ by business owner(s) for personal use.

‘Drawings’ is the term given to money _____ by business owner(s) for personal use.

Withdrawal of cash by proprietor for personal use is credited to _____.

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