Accounting for IGCSE & O level - Preparation Of Financial Statements (Section 26 - No. 7)
What does the balance in the 'Drawings' account represent?
The amount the business owes the owner.
The owner's investments in the business.
Assets the owner has taken from the business for personal use.
The business's profits for the period.
Explanation
Drawings represents the assets taken by the owner.
Comments (0)
