JAMB - Accounts Principles Of Accounts (2025 - No. 5)
Sulah took two textile materials worth GH¢ 500 from his business for his children's use. This would be treated as
drawings.
loan.
stock.
sales
Explanation
When a business owner takes goods for personal use, it is treated as drawings. Drawings are withdrawals of business assets by the owner for personal use. Since Sulah took textile materials worth GH¢500 for his children, this is treated as drawings.
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