Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 2 - No. 26)
What is the effect on the accounting equation if the owner withdraws cash for personal use?
Assets increase, liabilities increase
Assets decrease, owner's equity decreases
Assets increase, owner's equity increases
Liabilities increase, owner's equity decreases
Explanation
Assets decrease, owner's equity decreases.
Comments (0)
