Accounting for IGCSE & O level - Preparation Of Financial Statements (Section 23 - No. 36)
What does the term 'drawings' refer to in a sole trader business?
Money invested by the owner into the business.
Money taken out of the business by the owner for personal use.
The total expenses of the business.
The profits of the business.
Explanation
Drawings are personal withdrawals by the owner from the business.
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